03-12-2023, 09:24 AM
Safemoon appears to be getting rugged
<!-- SC_OFF --><div class="md"><p>Yes, we know it has already been rugged with their CEO stealing from the LP, but it is now accelerating today. </p> <p>Down over 29% on 24hr, 15% in last 1hr, reaching a new ATL. This is after the CEO John Karony went to court suing his own mother. The MC is now just $100mil and down 95% from ATH.</p> <p><a href="https://www.coingecko.com/en/crypto-gainers-losers">It has also now topped the loser list out of the top 1000 coins by market cap</a> for coin that has lost the most in the last 24 hours. </p> <p>Doesn't seem like there are any lifeboats left to get off that sinking boat ...</p> <p>Remember those windmills, "The Gambia", a project called "Pheonix" after their leader mistyped "phoenix", the liquidity pool being drained by their CEO? Coffeezilla? That weird guy called Papa that they all worshiped? Etc? </p> <p>Quote below from one of the posters on <a href="/r/safemoon">r/safemoon</a> about this court case (it's a great read some of the posts there with how delusional those "investors" are by the way - definitely recommend visiting their subreddit). </p> <blockquote> <p>This is the lawsuit where John (Ronin Energy Group and Ronin Real Estate) invested $5M (from SFM liquidity) into his mom's Emanations Communications Group (ECG) that was supposed to install communication antenna in The Gambia. BTW, Karony's initial $1.5M investment to ECG happened in June 2021....or right after raising $1M for the "exchange". Then his mom formed ECG Energy and ECG IP. John had zero ownership/control of assets nor operations. He didn't like that. John (Ronin Real Estate ) also gave his mom $127k for a down payment on a house in North Salt Lake City on Gary Way.. He also claims to have provided $150k (through Ronin Energy) to ECG to research wind turbines. His mom went on a spending spree with the money and ECG went broke..</p> <p>Then she got a loan from Lex Vest (Knecht & Castor).. She did not live up to those loan agreements, so Lex Vest gains control of the company and assets. BTW, Lex Vest was formed 10 days before she got that loan.</p> <p>So, in a nutshell, John Karony stole from the SafeMoon liquidity and exchange donations to fund his mom's business, she used the money on herself instead, ECG supposedly went broke, and then some random newly formed company takes control of it all.</p> </blockquote> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Regular_Chapter_788"> /u/Regular_Chapter_788 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11p7601/safemoon_appears_to_be_getting_rugged/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11p7601/safemoon_appears_to_be_getting_rugged/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>Yes, we know it has already been rugged with their CEO stealing from the LP, but it is now accelerating today. </p> <p>Down over 29% on 24hr, 15% in last 1hr, reaching a new ATL. This is after the CEO John Karony went to court suing his own mother. The MC is now just $100mil and down 95% from ATH.</p> <p><a href="https://www.coingecko.com/en/crypto-gainers-losers">It has also now topped the loser list out of the top 1000 coins by market cap</a> for coin that has lost the most in the last 24 hours. </p> <p>Doesn't seem like there are any lifeboats left to get off that sinking boat ...</p> <p>Remember those windmills, "The Gambia", a project called "Pheonix" after their leader mistyped "phoenix", the liquidity pool being drained by their CEO? Coffeezilla? That weird guy called Papa that they all worshiped? Etc? </p> <p>Quote below from one of the posters on <a href="/r/safemoon">r/safemoon</a> about this court case (it's a great read some of the posts there with how delusional those "investors" are by the way - definitely recommend visiting their subreddit). </p> <blockquote> <p>This is the lawsuit where John (Ronin Energy Group and Ronin Real Estate) invested $5M (from SFM liquidity) into his mom's Emanations Communications Group (ECG) that was supposed to install communication antenna in The Gambia. BTW, Karony's initial $1.5M investment to ECG happened in June 2021....or right after raising $1M for the "exchange". Then his mom formed ECG Energy and ECG IP. John had zero ownership/control of assets nor operations. He didn't like that. John (Ronin Real Estate ) also gave his mom $127k for a down payment on a house in North Salt Lake City on Gary Way.. He also claims to have provided $150k (through Ronin Energy) to ECG to research wind turbines. His mom went on a spending spree with the money and ECG went broke..</p> <p>Then she got a loan from Lex Vest (Knecht & Castor).. She did not live up to those loan agreements, so Lex Vest gains control of the company and assets. BTW, Lex Vest was formed 10 days before she got that loan.</p> <p>So, in a nutshell, John Karony stole from the SafeMoon liquidity and exchange donations to fund his mom's business, she used the money on herself instead, ECG supposedly went broke, and then some random newly formed company takes control of it all.</p> </blockquote> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Regular_Chapter_788"> /u/Regular_Chapter_788 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11p7601/safemoon_appears_to_be_getting_rugged/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11p7601/safemoon_appears_to_be_getting_rugged/">[comments]</a></span>