The Chief Technology Officer of SafeMoon, Thomas Smith, pleaded guilty to participating in a cryptocurrency fraud scheme involving $200 million. He admitted to conspiracy charges related to securities fraud and transactions. Along with Smith, SafeMoon's CEO Braden Caroni and project creator Kyle Naegle were charged. Prosecutors claim they illegally misappropriated over $200 million by misleading investors about the liquidity of the token. SafeMoon reached a peak of $8 billion but then collapsed after the revelations.
2/21/2025 10:49:13 AM (GMT+1)
The Chief Technology Officer of SafeMoon, Thomas Smith, pleaded guilty to cryptocurrency fraud involving $200 million related to false statements about the liquidity of the SFM token
20
Total views in all languages
Share: 100
x3
This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
Top Articles of the Last 10 Days
Binance launches a voting mechanism for the listing and delisting of tokens, providing users with more control and supporting new promising projects
El Salvador and Paraguay have signed a cooperation agreement on cryptocurrency regulation to combat illegal operations and improve control over money laundering
Tether froze $27 million USDT on the Russian exchange Garantex, leading to the suspension of all operations and withdrawals in response to international sanctions
Lukashenko tasked with modernizing Belarus's energy infrastructure and considering the use of surplus electricity for cryptocurrency mining
The US has begun returning Chinese cryptocurrency mining machines after their confiscation due to security regulations and trade sanctions against China
The hack of an anonymous TRON wallet led to a loss of $3.1 million: Researcher ZachXBT connects this incident to the attack on the Fantom Foundation in 2023, when $7 million was stolen
Senator Tim Scott proposes a bill to exclude "reputational risk" in banking regulations, with the goal of stopping the de-banking of cryptocurrency companies and legal businesses
