SafeMoon CEO Sentenced to Over 8 Years as Judge Calls Scheme “Theft”

Braden John Karony, the former CEO of SafeMoon, was sentenced by a US federal judge to 100 months (8 years and 4 months) in prison for fraud connected to the collapse of the Solana token. Judge Eric Komitee characterized the scheme as "theft" rather than just fraud, noting the significant losses suffered by investors who were assured their funds were safe in a supposedly "locked" liquidity pool.

Victims testified about losing life savings and delaying major life plans due to their investment. Prosecutors had sought a 12-year sentence, arguing Karony showed no remorse and deliberately misled investors by promoting the token while insiders misappropriated millions.

SafeMoon launched in 2021 with promises of long-term rewards, but prosecutors alleged that executives retained control over the liquidity and diverted funds. The conviction and subsequent sentence place the SafeMoon case among recent crypto prosecutions where courts have treated liquidity abuse and broken trust as criminal theft.

(Source：BeInCrypto)