Safemoon fraud has been exposed, and the price of the token has tanked 26% after that. Well, we know that Safemoon rewarded hodlers and added liquidity with the commissions it received from the sellers. However, it has been uncovered that John Karony has not been adding the Safemoon he has been receiving from sellers to the liquidity pool. It seems their team had a deal with Bitmart where the exchange sent the 5% Safemoon tokens to John while distributing the rest among holders. And John just kept it.
Safemoon fraud: Maybe the critics were right all along!
The Safemoon project always seemed to have something wrong about it. While, at the time, it was difficult to understand precisely what it was, now we know. It was the team of the project. Just like John, Kyle, who was a member of the Safemoon team, was a part of liquidity fraud. While John didn’t deposit the tokens to the liquidity, Kyle kept withdrawing from it. Another member, Thomas, lied about his XRP job offer and development credentials to steal from the liquidity pool again.
However, the safemoon community is still stuck to the idea that the project will sustain. Well, you can’t expect so if the team is filled with fraudulent people. Even after the fraud was uncovered, there have been tweets of buying the dip and holding for the next 10 years.
Is this video true?
The Youtuber has given all the necessary proof to conclude that the Safemoon CEO has been part of the fraud. It’s a long video, so you have to take your time to watch it; however, if you are holding Safemoon, I highly recommend you do. Most importantly, if you think Safemoon is going to be a get-rich scheme for you even after so many frauds from its team, I highly envy your ability to believe in people.
I would not personally invest a single penny in Safemoon, and I recommend the same to everyone else. This article could get some backlash from the community, but at least I have cited a trustable source this time around.
Do you think as the Safemoon fraud gets exposed, it will be the final nail in the coffin? Or is the community just going to keep trusting scammers? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Hyperinflation and depression are here, says Robert Kiyosaki.
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