SafeMoon Founder Sentenced to 100 Months for Crypto Fraud
- Braden Karony, former CEO of SafeMoon, sentenced to 100 months in federal prison for crypto fraud.
- Convicted of securities fraud, wire fraud, and money laundering after misappropriating investor funds.
- Karony withdrew over $9 million in crypto and manipulated the price of the SFM token.
- The project launched on the BNB Chain in 2021 with a multibillion-dollar market cap at its peak.
- The SEC and DOJ filed charges in November 2023; SafeMoon declared Chapter 7 bankruptcy shortly after.
- Thomas Smith, former CTO, pleaded guilty to related conspiracy charges in 2025.
Braden Karony’s conviction highlights significant legal actions against fraudulent activities within the DeFi sector. The case underscores regulatory efforts to address misuse of investor funds and deceptive practices.
Source (3.2)https://cryptobriefing.com/safemoon-founder-sentencing-prison/?rand=59535
