On May 22, 2025, a New York court found SafeMoon’s former CEO Braden Caroni guilty of fraud. He was charged with serious charges like security fraud, wire fraud and money laundering. Now he can get up to 45 years in prison. This news has shocked the entire cryptocurrency world.
What did Braden Caroni do?
Braden Caroni and his team lied to people about the SafeMoon token. They said that the money (liquidity pool) of this token is safe and locked, but in reality they withdrew crores of rupees from that money for themselves.
Caroni earned about $9 million (about ₹75 crores) from this scheme and with this money:
- Bought a $2 million house
- Bought expensive cars like Audi R8 and Tesla
- Also bought special trucks
People who invested in SafeMoon were deceived by these actions.
What happened in court?
The case lasted for 12 days in a New York court. The jury found Caroni guilty in less than a day. Another SafeMoon official, Thomas Smith, has already confessed his crime and testified against Caroni. This may lead to him getting a lesser sentence.
SafeMoon’s real founder Kyle Nagy is still absconding. According to reports, he has fled to Russia. The court has also ordered the confiscation of $2 million worth of assets from Caroni.
What happens next?
Caroni could face up to 45 years in prison, but the date of sentencing has not been set yet. This case has made it clear that the US government is now taking crypto fraud seriously.
Impact on SafeMoon and tokens
After Caroni was convicted, the price of SafeMoon’s token fell by 10%**. Now it is trading near *\$0.00001889*. People have started selling tokens and trust in the company has decreased.
Lesson for crypto investors
This case is a warning to investigate thoroughly before investing money in any crypto project. Many people trusted SafeMoon and now they have suffered losses. The government is also now taking a strict attitude on such matters.
What are people saying?
People are talking about this case on X (formerly Twitter). Some are shocked, some are happy that action was taken. Many believe that now stricter regulations can be made for crypto, which will protect investors in the future.
Last thing
Braden Caroni being found guilty is a big turning point for SafeMoon and the whole crypto world. It teaches everyone to invest in crypto wisely and not invest money by taking someone’s word.
