Big news in the world of cryptocurrency! A top person from a company called SafeMoon admitted to cheating investors. This company sold something called a 'SafeMoon token,' which is like a digital coin. It wasn't really as safe as they said it was!
- SafeMoon's CTO (chief technology officer) pleaded guilty to fraud.
- He and others tricked people into investing, taking over $200 million.
- They pretended the money was safe, but they used it for fancy things like cars and houses.
- The SafeMoon token's value went way up and then crashed, hurting many investors.
| Fact | Number |
|---|---|
| Money stolen from investors | Over $200 million |
| Maximum sentence for fraud | 25 years |
| SafeMoon's highest market value | $8 billion |
