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Topic: SEC Charges Crypto Company SafeMoon and its Executive Team for Fraud - page 2. (Read 200 times)

sr. member
Activity: 980
Merit: 282
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Safemoon has their own wallet and as I can remember their community discourages short term selling when I can see their team members selling their coins! This project went through heavy shilling in its last bull run and some people still hold on to thinking it will recover one day. This type of project shows us the dark side of this industry where the team was promoting long term profit milestones and dumping their own coin in the open market. OP is right this is the last chance to get out of this scam project if someone is still holding on.

This is not the idea of crypto and I am not aware of the ongoing occurrences in the Safemoon community and the insincerity of the team as regarding the sales of tokens but if the allegation is actually true then I can only say, it is appauling, to hear of one of the most successful meme project in the last bullrun become compromising in delivering their services.

If the shakedown by SEC on founders of memecoin projects with no utility is a measure to further sanitize the system then I will applaud it as a move in the right direction. Someone needs to rise up to the occassion we are currently experiencing.
legendary
Activity: 1624
Merit: 2594
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Hey there,  first as a member rank you shod know how important it is to make use of the search feature in the top right hand to check whether or not the topic is already being discussed or not before going ahead to create a new one,  because this topic about safemokn CEO arrest and charges is already being discussed in another thread.

You should check the time first. This topic was created 20 minutes before the other one.

You can take a lock and lick this thread there after.  
https://bitcointalksearch.org/topic/us-government-arrests-safemoon-founders-5472480

That thread is already locked, probably by the moderators. OP doesn't need to lock this one.
hero member
Activity: 1190
Merit: 516
Safemoon has their own wallet and as I can remember their community discourages short term selling when I can see their team members selling their coins! This project went through heavy shilling in its last bull run and some people still hold on to thinking it will recover one day. This type of project shows us the dark side of this industry where the team was promoting long term profit milestones and dumping their own coin in the open market. OP is right this is the last chance to get out of this scam project if someone is still holding on.
hero member
Activity: 1022
Merit: 667
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I just read the news. Get out while you still can!



Hey there,  first as a member rank you shod know how important it is to make use of the search feature in the top right hand to check whether or not the topic is already being discussed or not before going ahead to create a new one,  because this topic about safemokn CEO arrest and charges is already being discussed in another thread.

You can take a lock and lick this thread there after.  
https://bitcointalksearch.org/topic/us-government-arrests-safemoon-founders-5472480
member
Activity: 234
Merit: 50
I just read the news. Get out while you still can!

Quote
The Securities and Exchange Commission today charged SafeMoon LLC, its creator Kyle Nagy, SafeMoon US LLC, and the companies’ Chief Executive Officer, John Karony, and Chief Technology Officer, Thomas Smith, for perpetrating a massive fraudulent scheme through the unregistered sale of the crypto asset security, SafeMoon. According to the SEC’s complaint, the Defendants promised to take the price of the token “Safely to the moon,” but instead of delivering profits, they wiped out billions in market capitalization, withdrew crypto assets worth more than $200 million from the project, and misappropriated investor funds for personal use.

https://www.sec.gov/news/press-release/2023-229
https://www.coindesk.com/policy/2023/11/01/sec-charges-safemoon-team-with-fraud-offering-unregistered-crypto-securities/
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