Former SafeMoon CEO Convicted in $2B Crypto Fraud Case

Braden Karony, once the public face of SafeMoon, has been found guilty in a major fraud case involving the misuse of billions in investor funds.

A jury in New York returned a guilty verdict on multiple charges, including wire fraud, money laundering, and conspiracy, tying him to a sweeping scheme that turned investor trust into personal profit.

According to court documents, Karony used the SafeMoon platform as a vehicle to mislead the public, falsely promoting the project as a secure investment while draining funds from its liquidity pools. The money was allegedly funneled into luxury real estate, expensive cars, and other high-end purchases—far from the transparent ecosystem SafeMoon claimed to be building.

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Investigators revealed that Karony, alongside key figures in the company, redirected millions meant for development and stability. While Karony denied wrongdoing, a former executive admitted guilt and testified against him. Another co-founder reportedly fled the country and is believed to be in Russia.

The conviction comes amid a broader crackdown on crypto-related fraud, following recent high-profile cases involving other digital asset executives. Authorities warn that such cases reveal a pattern of deception hidden behind flashy branding and technical jargon.

In the wake of the trial, SafeMoon’s token (SFM) dropped by 10% in a single day, continuing a month-long slide. Despite the decline, trading volume briefly rose—possibly reflecting speculative interest or panic trading.

Karony’s sentencing has yet to be scheduled, but he faces a potential 45-year prison term. The SafeMoon case now stands as a stark example of how crypto hype can be weaponized for personal gain, leaving retail investors footing the bill.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.