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SafeMoon CEO Found Guilty of Cryptocurrency Fraud, Faces Up to 45 Years in Prison

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The Block
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May 21, 2025

SafeMoon CEO Braden John Karony was convicted by a federal jury on three counts of fraud related to a cryptocurrency scheme that defrauded investors of millions. He faces up to 45 years in prison for conspiracy to commit securities fraud, wire fraud, and money laundering. SafeMoon LLC issued the SafeMoon digital asset in 2021, which had a 10% transfer tax. Prosecutors allege Karony and co-conspirators diverted millions from the liquidity pool for personal gain, despite claims that half the fee was locked in liquidity. Karony reportedly made over $9 million in crypto profits, used to buy luxury cars and real estate. Co-conspirator Thomas Smith pleaded guilty; Kyle Nagy remains at large. Karony denies the charges on social media. The U.S. Attorney's Office highlighted the fraudulent nature of the scheme.

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