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Project dissolution
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SafeMoon (SFM) Project Founder and Team: Fraud Allegations and Current Status Review
The SafeMoon project, founded in March 2021 by Kyle Nagy, John Karony, Thomas Smith, and others, once garnered significant attention. However, the project team was later accused by the U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) of orchestrating a massive fraud, misappropriating over $200 million in investor funds. CEO John Karony was convicted in 2025 and sentenced to prison in February 2026, while CTO Thomas Smith has pleaded guilty. Founder Kyle Nagy remains at large. SafeMoon LLC was dissolved and filed for bankruptcy in 2023, and the project is no longer actively operating.
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SafeMoon (SFM) Project Founder and Team: Fraud Allegations and Current Status Review
The SafeMoon project, founded in March 2021 by Kyle Nagy, John Karony, Thomas Smith, and others, once garnered significant attention. However, the project team was later accused by the U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) of orchestrating a massive fraud, misappropriating over $200 million in investor funds. CEO John Karony was convicted in 2025 and sentenced to prison in February 2026, while CTO Thomas Smith has pleaded guilty. Founder Kyle Nagy remains at large. SafeMoon LLC was dissolved and filed for bankruptcy in 2023, and the project is no longer actively operating.
Project dissolution
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