2023-12-15
SafeMoon is a DeFi protocol built on BNB Chain. The products of SafeMoon
including SafeMoon Swap and SafeMoon Bridge.
SafeMoon token advertise
itself as a deflationary token that has mechanism to increase the value of the
tokens for investors over time.
SafeMoon US, LLC filed
the Chapter 7 bankruptcy on Dec. 14, 2023 in the U.S. Bankruptcy Court for the
District of Utah, with attorney Mark Rose and Chief Judge Joel T. Marker
assigned to the case.
Last month on Nov
1 SafeMoon’s founder Kyle Nagy, the CEO John Karony, and CTO Thomas
Smith have been charged by the U.S. Department of Justice with running a
fraud that diverted tens of millions of investors’ funds. They have been
charged with conspiring to commit securities fraud, wire fraud and money
laundering.
Furtheremore, on Nov
1 the U.S. Securities and Exchange
Commission filed civil charges against SafeMoon LLC, its founders Kyle Nagy, SafeMoon US
LLC, and the companies’ Chief Executive Officer, John Karony, and Chief
Technology Officer, Thomas Smith, for perpetrating a massive fraudulent scheme
through the unregistered sale of the crypto asset security, SafeMoon.
As of Dec 15, 2023 market cap of SAFEMOON V.2 token down to $18.98 million and fully diluted market cap down to $33.51 million. 24 hours price of Safemoon V2 token down 98%.
