Posted 12/15/2023, 7:43:00 AM
SafeMoon Crypto Company Files for Bankruptcy Amid Fraud Allegations and Plunging Tokens
- SafeMoon crypto company files for Chapter 7 bankruptcy, will liquidate assets to repay creditors
- SafeMoon executives face criminal charges in the U.S. related to alleged fraud and misuse of investor funds
- SEC has also filed a lawsuit against SafeMoon alleging securities fraud
- SafeMoon token SFM plunges 42% on the bankruptcy news
- SafeMoon has estimated assets between $10M-$50M but owes creditors only $100k-$500k