Safemoon’s price plummeted by over 45% in only 24 hours, and it’s now down over 96% from its all-time high.
Following the newest video charge of fraud against Safemoon’s founder, the coin dropped over 50% in one day. This price drop occurred immediately after Coffeezilla published new fraud claims against SafeMoon’s founder and CEO.
A huge token holder (known as a whale) was shown selling four billion Safemoon tokens for nearly $2 million in the most recent video.
The Safemoon community had spent the previous week and a half denying and disputing the accusation that the wallets implicated in the fraud were personal wallets belonging to the 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 thread supplied URLs to two BSC Scan wallets that displayed the wallets implicated in the scheme as well as their transactions.
Coffeezilla was also warned off about another pump-and-dump scheme led by former employee Ben Phillips, according to the Reddit post. John Karony allegedly spent $300,000 for the tokens that were to be manipulated 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 videos was said to contain an NFT from that project. This appears to connect John Karony to the stolen wallets.
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