Former SafeMoon CEO Convicted in $200M Crypto Fraud Scheme

Braden Karony, former CEO of SafeMoon, was found guilty on all charges in a high-profile crypto fraud case that defrauded investors of $200 million. The federal jury in Brooklyn delivered the verdict after a 12-day trial, convicting Karony of conspiracy to commit securities fraud, wire fraud, and money laundering.

Prosecutors revealed that Karony misled investors about the security of SafeMoon’s liquidity pools while secretly siphoning funds for personal luxuries, including real estate and high-end vehicles. The scheme’s collapse has sent shockwaves through the decentralized finance community, underscoring the risks of unverified promises in the crypto space.

Karony now faces up to 45 years in prison, with sentencing scheduled for later this year. Approximately $2 million in assets tied to the fraud have been ordered forfeited. Co-conspirator Thomas Smith has already pleaded guilty and awaits sentencing.