The Safemoon! The Storyline...With the latest news of the founders being arrested, let's take a closer look at the Safemoon journey from the beginning to the end and how the saga unfolded."
08 MARCH 2021
Founded in Utah, as SafeMoon LLC..2021
Creator Kyle Nagy,
CEO -Barden John Karony
Name diverted from "Safely to the Moon "
Launched Price $0.0000000010
Maximum Supply 777 trillion coins
20 APRIL 2021
"Safemoon quickly rose to fame, reaching its all-time high (ATH) at $0.00001375, with a market capitalization MC) in the billions, marking a growth of 23000%. It became the most searched coin on CoinMarketCap, surpassing Shiba Inu."
MAY 2021
01st Major Red Flag…
the token was audited by security auditing firm CertiK, which identified a "major issue" that the project's owners have "control over tokens funded by SafeMoon's seller fee". An owner address acquire's the liquidity pool tokens generated by the Safemoon-BNB pool.
Safemoon price declined …
19 may 2021 price $0.00000261
JUNE 2021
Project Pheonix
a separate company Emanations Communications Group LC (ECG) was set up and led by SafeMoon CEO John Karony's mother, Jennifer, to provide antenna technology to The Gambia.As part of this venture, John invested $5 million into the project in June 2021. It was claimed that Karony funded this investment from SafeMoon's liquidity pool which was supposedly locked up. As part of this capital investment John agreed 33.34% stake in the company & future profits, as well as his own personal bills, to come out of the company. ECG determined that John Karony created too many regulatory risks and that due to multiple lawsuits filed against him and his company (SafeMoon), were uncomfortable accepting any more capital investments from him. As a result, John Karony filed a lawsuit against ECG for breach of contract and accused his mother of legal trickery to remove him from ECG…
Karony's mother stated that John had not provided a plan for Project Pheonix and was not interested in the content of the financial documents, but was looking for "opportunities to take pictures of the lab to substantiate his published claims of owning ECG labs which he called 'Area 32' or 'DarkMoon'". Due to the lawsuit, Project Pheonix has since been abandoned. On August 27, 2022, John stated that his reasons for discontinuing his work in West Africa were due to supply chain problems, which is disputed by his mother.
AUGUST 2021
Safemoon launched its highly anticipated Safemoon Wallet ,but within 30 minutes of the launch ran in to technical problems both IOs / Android & Web swap options …
price declined more than 20% due to the failure..
Famous tweet from Safemoon after the wallet crash….
"YOU’VE CRASHED #SAFEMOON THERES NO OTHER WAY TO SAY IT. WE WILL UPDATE YOU AS SOON AS POSSIBLE […] WE CAN’T WAIT TO HAVE YOU ALL HOME SOON…”
"One common characteristic of Safemoon messages was that they were all written in block letters. Due to this, there were lots of spelling mistakes as well."
"Lots of negative comments began to pour in, but the Safemoon Army remained resilient. Despite all the red flags, they often countered those who attempted to highlight the project's risks by labeling them as 'paid FUDsters from certain exchanges.'"
SEPTEMBER 2021
Price surged Briefly then declined further.. almost 80% down from its ATH..
CTO Hank Wyatt left the company
major concerns were the team is not able to full fill the commitments made during the launch….
YouTuber Coffeezilla highlighted irregularities with CBO Thomas 'Papa' Smith, particularly regarding the theft of user funds from the 'locked staking pool.' When confronted, Papa couldn't provide a response. Coffeezilla countered by presenting evidence that funds were removed from the 'locked liquidity pool' prior to Korony's appointment, supported by a blockchain transaction showing an outflow of 36.7 trillion tokens from the liquidity pool, dated March 5, 2021. Thomas Papa Smith acknowledged that Coffeezilla, also known as Findeisen, had the right to ask such questions but remained without answers. This raised a significant red flag."
NOVEMBER 2021
Thomas "Papa" Smith left the Safemoon …
as per his tweet he will continue to support the project from outside …
DECEMBER 2021
Safemoon V2 was launched on 16 December 2021
Ratio was V2 01 coin to V1 1000 Coins
reason was given as to reduce the transaction fees ..
when it opened at $0.0017,
New Ticker was SFM
according to CMC After some sideways price action,it started its Bull rally again ..
JANUARY 2022
Shortly after the launch of SafeMoon V2, the price surged, reaching an ATH of $0.00723 on 4 January 2022. However, the price dumped shortly after, before making a dead cat bounce in May 2022 and continuing to make lower lows…
FEBRUARY 2022
A class action complaint was filed against Safemoon LLC and its executives, as well as celebrity promoters Lil Yachty, Jake Paul, Nick Carter, and others, by numerous individual investors, alleging their involvement in an alleged pump-and-dump. But later this was voluntarily terminated by the plaintiff without prejudice per notice in November 2022 .
With these legal challenges, Safemoon continued to operate. Nevertheless, the Safemoon community remained steadfast in their support of the project."
Price - $0.001195
APRIL 2022
The price plummeted by 50% amid allegations of wrongdoing and a class action complaint…
Price - $0.000552
JUNE 2022
Price continues to tank,
price was at $0.000498
SEPTEMBER 2022
In their update, they highlighted the following:Safemoon Exchange undergoing internal testing.
Safemoon card with improved feature streamlining.
Safemoon Orbit Shield in beta testing.
However, it's worth noting that these upgrades were limited to communication only, and no actual products were released.
Price $0.000299.
OCTOBER 2022
By that time, all the product launches were either in the testing phase, in the pipeline, or being streamlined. Additionally, the projects related to Gambia, wind turbines, and Mooncraft were canceled.
For the rest of the months, there was little activity, and the entire crypto space experienced one of the longest bear runs in history…
Price $0.000329
FEBRUARY 2023
Price 0.000252
MARCH 2023
Safemoon fell victim to a hacking incident.SafeMoon's Liquidity Pool was compromised and USD 8.9M worth of tokens were withdrawn. However, even this setback did not deter the executives, as they managed to strike a deal with the hacker, who agreed to return 80% of the stolen funds….
Price- $0.000208
Rest of The Months there was nothing Much to Highlight But price continued to tank …
APRIL 2023
price - $0.000189
MAY 2023
Price - $0.000239
JULY 2023
Price - $0.000170
SEPTEMBER 2023
Price - $0.000123
OCTOBER 2023
Price - $0.000193
And Here Comes the NOVEMBER 2023..
THE FINAL NAIL IN THE COFFIN
Wednesday, November 1, the arrest of SafeMoon’s creators on fraud and money laundering charges likely marked the final nail in the coffin for a token that was once promoted by the likes of Soulja Boy and Lil Yachty….
the Justice Department unsealed a criminal indictment charging Karony with wire fraud, securities fraud, and money laundering. The charges also implicated Kyle Nagy and Thomas Smith.
“As alleged, the defendants deliberately misled investors and diverted millions of dollars to fuel their greedy scheme and enrich themselves by purchasing a custom Porsche sports car, other luxury vehicles,” stated United States Attorney Breon Peace.
Clayton Simms, Karony’s attorney, said in an interview that his client is “completely and totally innocent” of criminal charges unless and until proven guilty. Karony “absolutely looks forward to defending himself,” Simms said. “An indictment is just the first step, not a conviction.”
Prosecutors have asked that Karony be held without bail, claiming he is a flight risk with family ties outside the country and could tamper with evidence if released. Simms has requested his release; in a petition filed Thursday, he argued “to think that Mr. Karony who has no criminal history and no history of any substance abuse would throw away his entire life to become a fugitive from justice strains credulity.”
with this development Obviously the price crashes further…
price - $0.0000607…
The future of Safemoon and its investors remains uncertain, and only time will reveal what lies ahead…..
