SafeMoon LLC was an American cryptocurrency and blockchain company that was created in March 2021.[1] Their cryptocurrency token was called SafeMoon (SFM) and it was on a blockchain called Binance Smart Chain. The token charged a 10% fee on every transaction: 5% was sent to people who already had SafeMoon tokens, and 5% was sent to digital wallets controlled by SafeMoon's creators.[2][3] The token reached its highest value in April 2021, but shortly after it lost most of its value.[4]
In November 2023, the US Securities and Exchange Commission (SEC) and Department of Justice (DoJ) charged SafeMoon's main team with fraud.[5] They said the main team took over $200 million out of SafeMoon which they were not meant to, and used it to buy expensive houses and cars.[6][7]
In December 2023, SafeMoon filed for bankruptcy and the company shut down.[8] The token cannot be bought or sold anymore.
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