Former SafeMoon CTO Receives 8-Year Sentence for $9M Fraud Scheme

Thomas Smith, the ex-CTO of SafeMoon, has been sentenced to eight years for defrauding investors out of $9 million. Co-conspirator Kyle Nagy is still at large.

Thomas Smith, the former chief technology officer of SafeMoon, has been handed an eight-year prison sentence after being implicated in a fraudulent scheme that deceived investors out of approximately $9 million. This case highlights the growing concern over fraud in the cryptocurrency space.

In addition to Smith's sentencing, it is noteworthy that he has already entered a guilty plea regarding the charges against him. Meanwhile, his alleged accomplice, Kyle Nagy, has yet to be apprehended and remains on the run.