SafeMoon
A BNB Chain token (2021) whose leaders, per the SEC/DOJ, falsely told investors the liquidity pool was 'locked' while retaining access and misappropriating assets worth more than $200M. CEO convicted in 2025.
Also known as: SafeMoon, SFM
Summary
SafeMoon was a BNB Chain token launched in March 2021. The SEC and DOJ said its leaders falsely assured investors that the project's liquidity pool was "locked" and inaccessible, while in fact they retained access and misappropriated assets worth more than $200 million. [1][2]
Mechanism
Per the SEC, large portions of the liquidity pool were never locked; executives withdrew assets for luxury cars, travel, and homes, and engaged in wash trading. The token's market capitalization exceeded $5.7 billion before collapsing. [2]
People
CEO Braden John Karony was convicted in May 2025 and sentenced to 100 months in prison; CTO Thomas Smith pleaded guilty; founder Kyle Nagy remained at large per reporting. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Sources (2)
See also
$MELANIA tokenMarket manipulationA Solana memecoin announced by Melania Trump on Jan 19, 2025. Per FT analysis, ~24 wallets bought in minutes before the public announcement and netted ~$99.6M as retail piled in; the token then fell 95%+. Early buys were traced to wallets linked to $LIBRA figure Hayden Davis. No charges have been filed.
$TRUMP tokenMarket manipulationA Solana memecoin launched days before Donald Trump's second inauguration (Jan 2025). Trump-linked entities hold 80% of supply and earned $320M+ in fees while ~760,000 mostly-retail wallets lost money; a 'dinner with the president' promotion for top holders drew conflict-of-interest scrutiny. The 'scam' label is contested and no charges have been filed.
This page was last updated on Jun 15, 2026. View revision history.