The worth of Safemoon dropped over 45% in worth inside 24 hours and is now down over 96% from its all-time excessive. This catastrophic drop in value got here shortly after Coffeezilla revealed new allegations of fraud in opposition to SafeMoon’s founder and CEO.
The most recent video revealed a big token holder (generally known as a whale) promoting off 4 billion Safemoon tokens price nearly $2 million.
Based on a publish on Reddit, the Safemoon group had spent the earlier week and a half denying and disputing the allegation that the wallets concerned within the fraud had been private wallets belonging to Safemoon CEO John Karony.
The Safemoon group believed the in-going and out-going transactions to be harmless transactions that included depositing and eradicating tokens from liquidity swimming pools and funds from Bitmart.
The thread included hyperlinks to 2 of the wallets on BSC Scan displaying the wallets concerned within the scheme and their transactions.
The numbers attain nearly $2 million when each of the pockets transactions are mixed.
The Reddit publish goes on to stipulate one other state of affairs the place Coffeezilla was tipped off about one other pump-and-dump scheme run by former Safemoon worker Ben Phillips. This scheme allegedly concerned John Karony spending $300,000 on the tokens that had been to be manipulated.
A hotdog-related NFT venture was additionally talked about within the publish with Karony allegedly saying that was the one venture he favored on Twitter. One of many wallets revealed in Coffezillas movies allegedly owned an NFTs from that venture. This appears to hyperlink John Karony to the wallets concerned within the fraud.
Nonetheless, in keeping with the Reddit publish, the Safemoon group nonetheless isn’t satisfied, seeing the entire state of affairs as “fud” and offering a superb alternative to build up extra cash.