SafeMoon Token Plummets After Bankruptcy Filing and Fraud Charges Against Founders
• SafeMoon files for Chapter 7 bankruptcy after token value drops 31% in 5 hours
• Key company members charged by DOJ for allegedly defrauding investors
• Bankruptcy filing causes further loss in crypto's value from $0.000065 to $0.000045
• SEC previously filed charges against SafeMoon, founder, CEO, and CTO
• Investors express anger over perceived deception, with token now down 98.2% from 2022 peak