The founders and executives of SafeMoon, a popular cryptocurrency project, have been charged with fraud by the US Securities and Exchange Commission (SEC). The SEC alleges that the defendants engaged in a “massive fraudulent scheme” by misleading investors about the SafeMoon token and its investment value.
The SEC’s complaint alleges that the defendants made numerous false and misleading statements to investors about SafeMoon, including:
-That the SafeMoon token was a “safe” and “profitable” investment
-That the SafeMoon team was developing a revolutionary new blockchain platform
-That the SafeMoon token was being used to fund legitimate business operations