Coinspeaker
Feb 11, 2026
3 0

BEARISH 📉 : SafeMoon CEO Braden Karony sentenced for $9M investor fraud

Key Points on SafeMoon CEO Sentencing:

  • Braden John Karony, former CEO of SafeMoon, sentenced to 100 months in prison for fraud and money laundering.
  • Karony diverted approximately $9 million from investors to purchase luxury items, contradicting the promise that liquidity pools were locked.
  • SafeMoon's value dropped by 99% since its peak in 2021.
  • Co-conspirators included former CTO Thomas Smith and creator Kyle Nagy; Smith pleaded guilty, while Nagy remains a fugitive.

A federal judge has sentenced former CEO of SafeMoon, to 100 months in prison for his role in a multi-million dollar fraud scheme.

Court Actions:

  • Karony ordered to forfeit $7.5 million and two properties.
  • Final restitution for victims to be determined later.

Context and Impact:

  • The sentencing emphasizes US government's focus on digital asset accountability.
  • Similar enforcement trends seen globally, such as recent convictions in South Korea and the US.

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