US Government Wants SafeMoon CEO Behind Bars Immediately

The United States District Court is actively seeking the immediate detention of Braden John Karony, CEO of SafeMoon, amidst serious allegations of fraudulent schemes and financial crimes.

Timeline of Safemoon, Safemoon-v2

Safemoon (SFM/USD) price jumped to the highest level since May 10 as investors reacted to the latest upgrade to SafemoonSwap. The token jumped to a high of $0.00026, which was more than 100% above the lowest level this month. SafemoonSwap upgrade It is unclear why the SFM price has doubled in the past few days.

Cryptocurrencies have captured the imagination of many investors in recent years, with the promise of high returns and decentralized systems offering an alternative to traditional financial institutions.

Safemoon hacker returned $7.2 million of the funds stolen from the protocol's liquidity pool, blockchain analytical firm Peckshield reported. According to Peckshield, the attacker returned the funds in two transactions during the early hours of April 20.

The SafeMoon hacker agrees to return 80% of the stolen funds taken in last month's liquidity hack, per @SafeMoonSpidey. SafeMoon drained for $9 million On March 28, a smart contract vulnerability was exploited, leading to a liquidity drain that netted the attacker $9 million in tokens.

 When SafeMoon upgraded its smart contracts, an exploiter was waiting and watching. As soon as the upgrade was complete, the exploiter detected and exploited a bug in the code, one that led to the loss of $8.9 million from the memecoin's liquidity pool.

Safemoon (SFM/USD) price remained in a consolidation phase even as it made headlines on Wednesday. The SFM token was trading at $0.00020 on Thursday, which was a few points above this week's low of $0.00019. The price is ~16% below the highest point this week.

On March 28, SafeMoon, a DeFi project, announced on Twitter that the liquidity pool (LP) associated with it had been compromised. Safemoon Liquidity pool hacked SafeMoon has yet to disclose the cause of the incident, but security firm PeckShield believes it may be attributed to a contract upgrade that introduced a public burn bug.

Recent regulatory actions against crypto units have already rocked the crypto market around the world. What added more trouble to the broader crypto market was the collapse of the crypto-friendly Silicon Valley Bank (SVB).

Recent regulatory actions against crypto-units have rocked the crypto-market around the world. The most recent SEC action against Kraken had an immediate impact on digital assets as the price of Safemoon (SFM) continued to fall.

The crypto market has been rocked by fresh regulatory actions against crypto units across the globe. The latest SEC action against Kraken had an immediate impact on the digital assets as the price of Safemoon (SFM) kept plummeting.