Ex-SafeMoon chief sentenced to more than 8 years over $9M investor fraud

SafeMoon’s former chief technology officer, Thomas Smith, has also pleaded guilty and is awaiting sentencing. Alleged co-conspirator Kyle Nagy remains at large.

Former SafeMoon CEO Braden Karony has been sentenced to 100 months in prison for stealing $9 million from the crypto platform’s liquidity pool in 2021 to fund a “lavish lifestyle.”

The sentence on Monday comes nine months after Karony was convicted by a federal jury on charges of conspiracy to commit securities fraud, wire fraud and money laundering in May 2025. 

“Not only did Braden John Karony abuse his position as CEO, but he also betrayed his investors’ trust by stealing more than nine million dollars in digital assets from his company to fund his lavish lifestyle,” FBI assistant director James C. Barnacle, Jr. said.

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