Altcoins News
By Steven Anderson
1 / 15
Braden John Karony got hammered. The former SafeMoon CEO just received an eight-year prison sentence from U.S.
2 / 15
The May 2025 jury verdict came after a brutal three-week trial where prosecutors laid out how Karony and his crew basically turned SafeMoon into their personal piggy bank.
3 / 15
U.S. Attorney Joseph Nocella Jr. didn't mince words when he said Karony targeted everyone from regular folks to military veterans to bankroll his fancy lifestyle.
4 / 15
IRS-CI New York Special Agent Harry T. Chavis said Karony basically raided SafeMoon's liquidity pool like it was his personal ATM.
5 / 15
SafeMoon launched in March 2021 with this wild 10% transaction tax that was supposed to reward holders and boost liquidity.
6 / 15
They claimed the tokens only served business functions and that liquidity pools had strict oversight. Total garbage.
7 / 15
Thomas Smith's sentencing date hasn't been announced yet. Kyle Nagy? Still missing in action. Related coverage: Young Crypto Fraudster Gets 375-Year Prison.
8 / 15
The whole SafeMoon saga really shows how fast things can go sideways in crypto. The company's tokenomics model looked innovative on paper, drawing in tons of retail investors who…
9 / 15
During the trial, evidence showed Karony and his crew maintained total control over those liquidity pools despite telling everyone otherwise.
10 / 15
The fallout keeps spreading. Tons of first-time crypto investors got burned, and many of them were people who couldn't really afford to lose that money.
11 / 15
Crypto folks are watching this case closely because it shows how easy it is for bad actors to exploit the space.
12 / 15
Current SafeMoon leadership hasn't said much since the verdict. CEO John Doe went radio silent, leaving investors and stakeholders wondering what happens next.
13 / 15
Crypto exchanges that listed SafeMoon are getting some heat too, even though they weren't directly involved in the fraud.
14 / 15
Victims are still waiting to see how much money they might recover through restitution. The court hasn't set final amounts yet, but whatever number they land on will determine…
15 / 15
Karony starts his eight-year sentence while investigators keep hunting for Nagy.
The Currency Analytics
Want the full story?