Safemoon CEO Convicted on Three Counts of Crypto Fraud—Faces 45 Years Behind Bars

Crypto’s wild west just got a sheriff’s verdict. The mastermind behind Safemoon—once hyped as the ’people’s token’—now stares down a 45-year sentence after a federal jury delivered a guilty verdict on three fraud charges.

From moon shots to mugshots. The case exposes the dark underbelly of DeFi’s pump-and-dump culture, where founders still treat investor funds like casino chips. Remember kids: when a token’s whitepaper reads like a get-rich-quick scheme, it probably is.

Safemoon CEO John Karony Faces Up to 45 Years in Prison For Crypto Fraud

The CEO also used the diverted funds to buy residential properties worth millions of dollars.wrote the DOJ.

The DOJ explained that Safemoon’s executives diverted funds from the liquidity pool as its market cap touched $8 billion..

The case was tried in the court for 12 days before the Jury passed the judgement on Wednesday. The CEO now faces up to 45 years in prison.the Justice Department noted.