Former SafeMoon CEO Braden John Karony was sentenced to 8 years in prison for defrauding investors. He was convicted on multiple charges for manipulating token prices and stealing funds. SafeMoon tokens once had a market cap of $1 billion, but due to contract vulnerabilities and team fraud, the current market cap is only $2.08 million.

Gate News bot message: According to Inner City Press, SafeMoon founder Braden Karony has been sentenced to 100 months in prison.

Gate News bot message, the U.S. Department of Justice (DOJ) has recovered $680,000 related to a Crypto Assets vulnerability and is returning funds stolen through the Safemoon smart contracts vulnerability.

Odaily News James Wynn posted on the X platform asking the community which token is the next SafeMoon, and stated that he has put SOL into the "chamber" and is ready to "shoot".

Gate News bot message, a U.S. federal jury found former SafeMoon CEO Braden John Karony guilty of three counts of fraud, stemming from an alleged scheme that defrauded investors of millions of dollars in a crypto assets plan. The U.S. Attorney's Office for the Eastern District of New York stated that Karony could face up to 45 years in prison for charges including conspiracy to commit securities fraud, wire fraud, and money laundering.

According to Gate News bot, Cointelegraph reported that on May 21, a federal jury in the Eastern District of New York found former SafeMoon CEO Braden John Karony guilty of conspiracy to defraud the United States, Money Laundering, and wire fraud, all three felony charges. Prosecutors allege that Karony, along with former CTO Thomas Smith and project founder Kyle Nagy, misappropriated millions of dollars worth of SFM tokens in 2023. In this case, Smith has pleaded guilty and testified. Another involved party, Nagy, is currently at large and is reportedly on the run in Russia.