Guy Fawkes 
Braden John Karony, the CEO behind the formerly viral SafeMoon project, has been sentenced to 100 months, over eight years, in federal prison.
While he marketed SafeMoon as a revolutionary token that was “safely” locked away from bad actors, prosecutors proved he used investor funds to bankroll a lavish lifestyle, deceiving holders who believed they were part of a secure decentralized finance (DeFi) revolution.
JOHN KARONY, CEO OF SAFEMOON GETS 8 YEARS (100 MONTHS) IN PRISON.
Reported on this 3 years ago. pic.twitter.com/TOA02ARWTG
— Coffeezilla (@coffeebreak_YT) February 10, 2026
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What Is SafeMoon And Why Does It Matter?
Launched in early 2021, SafeMoon blew up fast and briefly hit an $8B market cap. It attracted many beginners with the promise of “locked liquidity,” meaning the devs claimed they could not touch the funds and that the project was safe.
Who’s old enough to remember SafeMoon? https://t.co/JI6PRJvPDO
— K A L E O (@CryptoKaleo) February 10, 2026
In reality, that protection was mostly an illusion. The team still had access to the liquidity and quietly drained millions for themselves. The hype made it look secure on the surface, but underneath, the risks were always there.
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How The “Safe” Scheme Unraveled
During sentencing in a Brooklyn federal court, it came out that Karony and his co-conspirators misappropriated over $200M. Karony personally pocketed millions while spending investor money on luxury items such as a $2.2M home in Utah, an Audi R8, and custom trucks.
Prosecutors were blunt about how bad the fraud was. U.S. Attorney Joseph Nocella Jr. said the asset was “anything but safe,” and that investors were deliberately misled.
Remember that one time when Safemoon hired a real actor as the Chief of Staff and everyone thought it was a good idea? lol pic.twitter.com/mw1GJk7ppA
— DahmnSon.eth (@DahmnSon1) February 10, 2026
The case fits into a broader crackdown on crypto fraud, with authorities making it clear that hiding behind blockchain anonymity will not stop prison time.
While prosecutors pushed for a 12-year sentence, the judge ultimately handed Karony a sentence of just over 8 years, followed by 3 years of supervised release. A separate hearing to determine how much he must repay victims is set for April 23.
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The post SafeMoon CEO John Karony Sentenced to Over 8 Years for Massive Crypto Fraud appeared first on 99Bitcoins.
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