Safemoon is down 96.5% down from all-time high after Coffeezilla’s recent fraud allegations |
Safemoon is a digital asset that’s down 96.5% from all-time high after Coffeezilla allegations, the company behind it filed for bankruptcy on July 22nd and has since been acquired by another firm.
Safemoon’s price plummeted by over 45 percent in only 24 hours, and it’s currently down over 96 percent from its all-time high. This price reduction occurred immediately after Coffeezilla published additional fraud claims against SafeMoon’s creator and CEO.
A huge token holder (known as a whale) was shown selling four billion Safemoon tokens for over $2 million in the most recent video.
The Safemoon community had spent the previous week and a half rejecting and contesting the assertion that the wallets implicated in the scam were personal wallets belonging to Safemoon CEO John Karony, according to a post on Reddit.
The Safemoon community thought the in-going and out-going transactions, which included depositing and withdrawing tokens from liquidity pools and Bitmart payments, were harmless.
The message supplied URLs to two BSC Scan wallets that displayed the wallets implicated in the scam as well as their transactions.
On bscscan.com, one of the claimed Safemoon wallet transactions.
When both wallet transactions are added together, the total comes to approximately $2 million.
The claimed Safemoon wallet’s second transaction on bscscan.com.
Coffeezilla was also warned off about another pump-and-dump operation led by former Safemoon employee Ben Phillips, according to the Reddit thread. John Karony reportedly spent $300,000 for the tokens that were to be altered as part of this plan.
The article also addressed a hotdog-related NFT project, with Karony purportedly stating that it was the only project he liked on Twitter. One of the wallets seen in Coffezilla’s films was said to contain an NFT from that project. This seems to connect John Karony to the stolen wallets.
The Safemoon community, however, isn’t persuaded, according to the Reddit thread, and views the scenario as “fud” and a good chance to gather additional money.
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