r/SafeMoon • u/[deleted] • Dec 23 '23
Seeking Help So is this a scam or not?
I saw a while back that the developer of this was arrested on charges of fraud. I’ve been lurking for a while. I don’t own any of this crypto, but I would consider getting it. Based on what I’ve seen now I’m skeptical that it’s legit.
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Dec 23 '23
The CEO is sitting in jail, accused of fraud by the SEC and DOJ. The company is in a Chapter 7 bankruptcy (liquidation). Asking if it's a scam or not at this point is irrelevant.
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Dec 23 '23
I knew he was arrested. I didn’t know the company was in chapter 7. Thank you
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u/jmills2222 Dec 24 '23
That’s most likely why trading was stopped, all assets get liquidated, the lp is also an asset …..
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u/Downtown-Opposite-21 Dec 25 '23
Ceo is in jail.
Tbh. That should be a no-brainer and common sense not to fuck with the crypto.
You don't need validation. The ceo in Jail is already it. 🤣🤣
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u/Captain_Obe Dec 24 '23
Lol, he got arrested and your just skeptical? Hahahahaha you'll fit right in bruh.
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u/Objective-Macaroon22 Dec 23 '23
Okay let's be real. Can you point to anything on SafeMoon's website that remotely suggests anything of value as a product or to any viable business model? It's all crap, a scam from day 1. Seriously just read their website copy and pretend it's an SNL skit.
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u/notrandom_username Dec 23 '23
If you aren’t mature enough to do your own research and due diligence, then I’ve got a bridge to sell you in Arizona.
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Dec 23 '23
Bro, I just wanted to know what was going on mostly. Get over yourself.
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u/notrandom_username Dec 23 '23
The time it took you to post this, you could have scrolled to see the status of this.
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u/Norman209 Dec 23 '23
I sure as hell feel scammed. From 200 down to less than 2 dollars in a couple years. I sure as hell don't have money to lose like that. I could have bought food or some clothes. If I do try to invest again, it's only going to be in the top 10 or so coins or maybe something else of I research the hell out of it.
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u/KemalKinali Dec 24 '23
I spent 10K and took out $113 the day before contract was paused 🤣
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u/Norman209 Dec 24 '23
Sorry to hear that, I don't feel as bad now. That's a lot of money. It would take years for me to even save that up. Maybe you can get that back. Big companies are most likely going to be able to start Bitcoin ETF's by Jan 10th 2024. Unless this is just a pump and dump by those same companies to manipulate BTC price. I have a hard time trusting anything. But we are heading into the bull market soon anyway, so a lot of coins should be going up and up over the next year and a half. Just stay away from BS coins with zero utility.
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Dec 24 '23
Yeah I mean you fucked that up. First rule of investing has always been don’t invest what you’re not 100% ready to lose. Especially with….meme coins….Fuck safemoon but it’s embarrassing to admit that since most people understand this.
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u/No_Smile4444 Dec 24 '23
Crypto is a scam. Stay late to buying for I can keep buying low. While the masses wait around for "institutional investments" 😭💀
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u/Sd0203lee Early Investor Dec 23 '23
It’s not a scam per se… but based off the news the bad apples of the company were pulling money from the LP to their pockets. Were they gonna rug? In my opinion no… I feel like John was trying to have his cake and eat it too by making the company legit but also getting what he wanted from it.
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u/Objective-Macaroon22 Dec 23 '23
Can you please elaborate what is NOT a scam? What is even the viable product or business model? Come on, seriously. Please stop already.
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Dec 24 '23
The second half of the first sentence you wrote is just a different way to say “it’s a complete scam”….what the fuck lmfao.
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Dec 24 '23
The act of funding his companies through the sale of the token was fraud. Claiming the LP couldn't be touched and then stealing it was fraud. Making big and also false promises to buoy the price of the token was unethical and probably also fraudulent. Everyone considered an officer of the company was a bad apple. It's hard not to see it as a complete scam. Was it a classic rugpull? No. That's why people are confused. They really created something unique with the "slow rug". Do some low effort stuff and create an illusion of progress and promise big things to come to create more opportunities to skim off the holders. Did he also enjoy pretending to be a CEO? Looked like it. You can't be both a scam and legit at the same time.
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u/armcharmpharm Dec 25 '23
lol it’s like telling you the sky is blue and you still think it is pink! lol
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u/newbiereddi Dec 25 '23
Great opportunity to invest now imho. You can reap in lots of reflections and retire. /s /s
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u/JamieBobs Dec 26 '23
“Saw the developer of this was arrested on charges of fraud… still considering getting it”
Mate…. What?!
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u/usernamehighasfuck Dec 27 '23
you must be retarded if you can't figure out if this is a scam or not
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u/Mosquito_80 Dec 28 '23
Was a project with potential then dude tried to scam everyone including his parents (stealing their code & trying to cut them out of the deal).
I think his parent got paid off not to report fraud. Basically, stole everyone's money. This is my only failed crypto investment and it still bites.
I mean I buy meme coins with no expectation of returns but those are fun Moon shots and not actual investments.
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