A New York jury has found Braden John Karony, former CEO of the Safemoon (SFM) cryptocurrency project, guilty on all counts related to alleged investor fraud. The charges stem from a two-week trial that concluded the ex-officials misappropriated millions of investors’ funds between 2021 and 2022 by manipulating Smart Contracts for personal gain. Prosecutors allege Karony and co-defendants Thomas Smith (former CTO) and Kyle Nagy (project founder) drained liquidity purportedly locked for investor benefit. Smith has already pleaded guilty and is cooperating with authorities, while Nagy remains at large in Russia. 40. Karony’s assets worth over $1.8 million were seized, and he will await sentencing. The impact of this conviction on the Safemoon project is significant. Following the charges, SFM’s net valuation has dropped from nearly $1 billion to approximately $7.5 million.