Safemoon is down 96.5% down from all-time excessive after Coffeezilla’s latest fraud allegations

by Cryptospacey

The worth of Safemoon dropped over 45% in worth inside 24 hours and is now down over 96% from its all-time excessive. This catastrophic drop in value got here shortly after Coffeezilla revealed new allegations of fraud towards SafeMoon’s founder and CEO.

The newest video revealed a big token holder (often called a whale) promoting off 4 billion Safemoon tokens price nearly $2 million.

Based on a submit on Reddit, the Safemoon neighborhood had spent the earlier week and a half denying and disputing the allegation that the wallets concerned within the fraud had been private wallets belonging to Safemoon CEO John Karony.

The Safemoon neighborhood believed the in-going and out-going transactions to be harmless transactions that included depositing and eradicating tokens from liquidity swimming pools and funds from Bitmart.

The thread included hyperlinks to 2 of the wallets on BSC Scan exhibiting the wallets concerned within the scheme and their transactions.

One of the alleged safemoon wallets transactions on bscscan.com
One of many alleged Safemoon wallets transactions on bscscan.com

The numbers attain nearly $2 million when each of the pockets transactions are mixed.

alleged safemoon wallet on bscscan.com 2
The second of the alleged Safemoon pockets’s transactions on bscscan.com

The Reddit submit goes on to stipulate one other scenario the place Coffeezilla was tipped off about one other pump-and-dump scheme run by former Safemoon worker Ben Phillips. This scheme allegedly concerned John Karony spending $300,000 on the tokens that had been to be manipulated.

A hotdog-related NFT venture was additionally talked about within the submit with Karony allegedly saying that was the one venture he preferred on Twitter. One of many wallets revealed in Coffezillas movies allegedly owned an NFTs from that venture. This appears to hyperlink John Karony to the wallets concerned within the fraud.

Nonetheless, in line with the Reddit submit, the Safemoon neighborhood nonetheless isn’t satisfied, seeing the entire scenario as “fud” and offering a superb alternative to build up extra cash.

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