SafeMoon CEO Found Guilty of Massive Crypto Fraud
Date: 2025-05-23 Author: Gabriel Deangelo Categories: BUSINESS
Braden John Caroni, the founder and head of the DeFi project SafeMoon, was found guilty of three serious criminal counts related to cryptocurrency fraud. The jury returned a verdict of guilty of conspiracy to defraud investors, using electronic communications to commit crimes, and money laundering.
The investigation found that Caroni, despite public assurances of investment security and the freezing of the liquidity pool, actually managed these funds at his own discretion. Instead of the promised protection of user assets, he transferred large sums to his own accounts and carefully concealed these actions using a complex network of anonymous wallets.
The maximum possible prison term for the totality of the charges is 45 years. It is noted that Caroni received a personal benefit of over $9 million. He spent this money on purchasing expensive real estate and luxury cars, including an Audi R8 and a Tesla.
At the height of SafeMoon's popularity, in 2021, the project reached a capitalization of $8 billion. At that time, the team announced a 10% commission on transactions, half of which was allegedly sent to a "locked" liquidity pool. However, the actual actions of the management contradicted these statements.
"SafeMoon was presented as a reliable project, but became a trap for investors. Caroni pursued personal interests, taking advantage of people's trust and profiting from their investments," said prosecutor Joseph Nocella.
Despite the guilty verdict, Caroni continues to claim his innocence through social media.
It is also worth recalling that in 2023, the US Department of Justice and the SEC brought charges against another key person in the project - its creator Kyle Nagy, who is still wanted. Additionally, in February 2025, SafeMoon's CTO, Thomas Smith, pleaded guilty to two charges.
