SFM

wildpantz

I developed a crypto bot and about two months ago I implemented pump detection. It worked pretty well not counting turbo shitcoins like SFM which I had to delete because my dog could triple the price with its allowance only, but in general I'd maybe get one warning a day. Sometimes I'd have multiple days without a single warning. Well, today [was a surprise](https://www.facebook.com/b9662e10-fd56-4692-98c7-948ac4eafaae) lol

BetterCallMyJungler

Sell everything and buy SFM. Aside from devs getting arrested for fraud all is going well. 😂

JacKINGdaPOT

Dude got what he deserved. But what about the others who helped him achieve this crime? This gives me hopes for the SFM community at least some justice if not our funds back.

Spags25

exactly how I treated SFM in '21, worked out great tbh.

StellarLumens2Moon

$SFM on Solana

chris_ots

Yes, the ecosystem is scams and the idiots who eat them up. You can see it in action on twitter where people who were once shilling SFM are now shilling grove to the same follower lists.

Risp_91

Held One at 38 cents to sell at 1.5 cent. Made a small loss which could've been big profit Had 21x profit on SFM but got greedy and held. Sold for 11x profit. Greed is the profitkiller

TNGSystems

It’s a bit complicated. $200m was taken from the LP under Karony’s watch. Approximately half BNB and half SFM. Most, but not all of the BNB was used to rebuy SFM tokens from a different liquidity pool, pumping the price. A large portion of BNB was simply sold off on exchanges or sent to different wallets. The SFM tokens they extracted and the SFM tokens they bought were used for a number of purposes: * converting SFM to USDT for themselves * converting SFM to USDT for operations/expenses * giving SFM to influencers to pump and dump * allocating huge amounts of SFM to themselves * sending batches of 1T Safemoon tokens to new wallets, which immediately sell, in an effort to obscure the team selling tokens. So yeah, $200m has indeed left the pool, but also appreciate that if $100m of BNB was converted to $100m of SFM, and then SFM went down 60%, John & Co. Only have $40m to convert to USDT etc.

Nhopper11

Let's fucking go! $SFM to the moon!!!

TNGSystems

That article wasn't correct. https://bscscan.com/address/0x6f96042e6064ed5025b13a5b5b51702942cae537 This is the bankruptcy trustee account, all SFM LP assets were sent here for liquidation. It's got nothing to do with John.

coinfeeds-bot

tldr; An unknown entity has withdrawn $11.2 million in liquidity from a modified SafeMoon deployer contract amid the project's bankruptcy proceedings. The entity whitelisted an external address to remove liquidity from various pools, transferring the funds across Ethereum, BNB Chain, and Polygon. SafeMoon's SFM token dropped by over 8% following the news. The incident's connection to SafeMoon's ongoing bankruptcy case, initiated in December 2023 after SEC accusations of a fraudulent scheme by its executives, is unclear. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Responsible_Net_2377

$SFM on Sol?! Damn Im in

_cantstop

It’s time for the revival of $SFM on #Solana 🚀🌘

allstater2007

So it's time to go all-in on SFM then right? Elon Musk will come and save the day as the Safemoon products are too revolutionary to let sit and collect dust. /s

pcm2a

SFM?

TNGSystems

When 250 billion Safemoon tokens were collected from the 5% fee, half were sold for BNB and paired with the other half of SFM collected. Those were then added to LP and the owner address was given LP tokens. These new LP tokens gave them the ability to extract the assets in the LP beyond what was added from generation.

IsaacWatts88

I've heard good things about SFM. But in all seriousness, personally I'd go 50/50 on BTC/ETH

fan_of_hakiksexydays

In the US, and I think even in most country, it doesn't matter if you don't sell for USD, trading to another crypto is still a trade. So in a country like the US, yes if you incurred a loss on your SFM in that trade, you have losses you can report for your 2023.

cubonelvl69

Now is the perfect time to stock up on FTT, LUNA, SFM

purzeldiplumms

Is SFM SafeMoon V2? If you bought a new shitcoin, they might have a transfer / sell tax of 50%. SFM can still be traded on MEXC, it seems (?) not sure though

coinfeeds-bot

tldr; The relevant text for the article title is: "Crypto company SafeMoon filed for Chapter 7 bankruptcy on Thursday, as its executives face criminal charges in the U.S." SafeMoon, affiliated with a token by the same name, has filed for bankruptcy and its executives are facing criminal charges. The company has between 50 and 99 creditors, $10-50 million in assets, and owes $100,000-500,000. The executives were arrested on charges of securities fraud conspiracy, wire fraud conspiracy, and money laundering conspiracy. SafeMoon also faces a Securities and Exchange Commission (SEC) lawsuit alleging fraud and securities law violations. As a result, SafeMoon's SFM plunged 42% over the past 24 hours. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

_Piratical_

So… I know I’m just some rando, but how exactly does a blockchain go bankrupt? I mean it is meant to be a distributed system running on computers all over the world. There are supposed to be consensus mechanisms than ensure that everyone sees the same ledger and that all of the agreed blocks show the same thing. So, I guess what I’m asking here is, “How the fuck did these guys just _unlock_ hundreds of millions of dollars and take coins that were locked? I bet I know. I bet that SFM was not really a blockchain at all but instead it’s some centralized shitcoin totally owned and controlled by some skeezy company of duchebags. That’s it, isn’t it?

tika_dengu

SFM up 25%, my faith in Crypto has been restored. LFG!

Warrlock608

I found a random wallet with $7 worth of bnb back in January and just as a lark I bought some SFM. Today it is worth $1.21, best investment of the year!

mellowanon

and look at how popular that lottery ticket mentality is. 49% of americans have bought a lottery ticket. https://www.ngpf.org/blog/question-of-the-day/question-of-the-day-what-percent-of-americans-bought-a-lottery-ticket-in-the-past-year/ So it's not surprising that it exists for SFM too.

CoolHandRK1

These people alternate back and forth between looking at their SFM price on an exchange, and playing "Zoo Manager" with their beanie baby collections.

telejoshi

>It's possible the SEC can use this to say any crypto is a security. They can say that about Safemoon because these guys acted like a company. THEY EVEN HAVE AN OFFICE. SFM passes the Howey Test (depending on what you mean with "pass")

CVV1

I've seen a few people say something along the lines of "no one ever really knew if anything bad was happening!" I might be mistaken, but the indictment accuses the SFM team of the same things Coffezilla did. It was out there in the open with proof for a LONG time.

sweetsimplesauce

Karony was just arrested on federal charges yesterday. A federal indictment was unsealed yesterday charging the SafeMооn founders Braden John Karony, Kyle Nagy, and Thomas Smith with conspiracy to commit securities fraud, conspiracy to commit wire fraud and money laundering conspiracy for their roles in defrauding investors in a decentralized finance digital asset called “SafeMооn” (SFM) that was issued by their company SafeMооn LLC. Braden Karony and Thomas Smith were both arrested yesterday. Kyle Nagy remains at large. https://www.justice.gov/usao-edny/pr/founders-and-executives-digital-asset-company-charged-multi-million-dollar [SafeMооn's price was already down 99% and then it went down another 100% after the founders were arrested.](https://i.imgur.com/9OUyyXJ.jpeg)

sweetsimplesauce

He was just arrested on federal charges yesterday. A federal indictment was just unsealed yesterday charging the SafeMооn founders Braden John Karony, Kyle Nagy, and Thomas Smith with conspiracy to commit securities fraud, conspiracy to commit wire fraud and money laundering conspiracy for their roles in defrauding investors in a decentralized finance digital asset called “SafeMооn” (SFM) that was issued by their company SafeMооn LLC. Braden Karony and Thomas Smith were both arrested yesterday. Kyle Nagy remains at large. https://www.justice.gov/usao-edny/pr/founders-and-executives-digital-asset-company-charged-multi-million-dollar [SafeMооn's price was already down 99% and then it went down another 100% after the founders were arrested.](https://i.imgur.com/9OUyyXJ.jpeg)

OMFGROFLMAO2

Market's pumping, portfolio is looking great, John Karony got arrested, SFM is over after 2 years of fighting against the cult. Finally a respite after 2 harsh years.

MarshallsHand

Part of me always had a feeling that it was just intended to be a super-duper-hella-duper slow rugpull. I wanted to believe that it wasn't, because hey, I'm like everyone else and I wanna get shitcoin rich lmao Well, it was a rugpull. Except before SFM could finish pulling the rug on us, the SEC pulled their rug, and was sorta like "SEC our DECs, motherfuckers." Safepwned

I_AM_MORE_BADASS

Lol I just read about SFM. So glad I'm not smooth brained enough to have ever touched that.

jawni

There is a bit more to it than that. Otherwise you might as well go buy some HEX and SFM just because this sub hates it.

tika_dengu

Is it reckless degen behaviour to throw a tenner at SFM?

telejoshi

I just went to their sub and the SFM crew on Twitter was really cocky when Moons died, now their comments aged like milk and it's awesome.

airwavieee

The sub is dead as it is. Few posts, not a large amount of comments or anything. Already had a suspicion the biggest SFM shill were either paid or the team themselves. They will be gone now too.

allstater2007

Catch a break? This should have happened long ago and they all deserve some much needed time behind bars. Any SFM holders left have no one to blame but themselves. We've been screaming "it's scam" for over 2yrs and they just smile and continue to buy.

Darth_Laidher

More like SFM dropped like a bomb.

Slane1987

du kannst dir endlich ein echtes Hobby suchen! deine Beziehung zu SFM war schon creepy. hoffentlich findest du endlich in Frieden

SquareEvening8978

It's a whole rabbit hole of so many funny/sad stories, there probably isn't a single crypto in the world that has more interesting reads. Safemoon popped up in the bull market, people got hyped and its price skyrocketed by huge proportions after which it started melting like crazy and still does, but the community is so delusional, they'll do anything before admitting they were wrong for investing into a scam. They'll call you a fudder, they will tell you to stay poor and their charismatic leader will call you a burner account of one of the 15 fudders desperately trying to ruin his public image. The amount of copium is unreal, they have been waiting for their own blockchain and exhange for the longest time now and the saddest part is they think Safemoon will skyrocket again because "safemoon is innovating in crypto space". I honestly don't know why anyone other than them would be using Safemoon exchange even if it ever was released, but ok. I don't really want them to stop believing in it because it's so funny, I'll be sad if SFM hits literal zero. I follow a crypto bot and any time I see Safemoon pumping or dumping, I go visit the sub to have a laugh. Sadly there's not so much activity anymore, but if it pumps people are acting like they'll be rich tomorrow, when it dumps, everyone is like "fill your bags people, SFM is at a discount (for the last year and going)".

TNGSystems

Glad to see someone actually calling me up on it for more information rather than bitching in discord. The numbers pertain to different elements of the theft. Several hundred million - across the three V1 deployer wallets, over $270,000,000 in assets (SFM & BNB) have been removed from the liquidity pools. **I can provide you all of the transaction hashes if you do not believe me.** The asset value is recorded at the time of removal (the largest single extraction was $37m BNB and $37m SFM) Most (but far from all) of that BNB was used to buy Safemoon tokens off pancakeswap liquidity. So using an example number, if they removed $50,000,000 of BNB and $50,000,000 of SFM, and then used the $50,000,000 BNB to buy Safemoon tokens, they’ve still taken $100,000,000 for themselves - just because they’ve swapped one asset back into the LP they still took $50m of the other out. A large proportion of those liquidity pool funds removed in SFM were sent to Bitmart for sale which is where John got the cash for the mansion, sports cars etc. The number Coffeezilla referenced is proceeds from the 100% tax, I believe that’s the $5m/$6m figure? That’s completely separate and it was $5m worth of Safemoon tokens taxed directly off investors between Dec 2021 and April 2022 - I stopped counting after that. Finally we have records of just what we see being transferred out of Bitmart into on-chain wallets we know belong to John (Gabe and Devil wallets) again I am happy to post volumes of evidence that prove that these are Johns personal wallets. Tens of millions of dollars were withdrawn from Bitmart into Johns Gabe and Devil wallets, and from there those have been sent off to numerous exchanges. I posted a graph in the SafemoonInvesting subreddit where you can see how much John has withdrawn to different exchanges per month. I hope that clears things up.

IanfinityXD

> ELI5 Short answer: Rugpull simulator Long answer: Rugpull simulator, and the supposed devs don't follow up with what the community actually wants, since the dev team is more focused on the card that doesn't give any benefits to the SFM token than the actual project.

bvandepol

Made big gains on SFM

CryptoDad2100

"💎 I ain't selling! 💎" Technically it's impossible for it to go to absolute 0, because at some point the swap fee in the protocol will exceed the amount to be swapped. I had fun watching the delusion of the SHIB and SFM crowd, now I'm kinda sad for them. Poor saps really think something magical is going to happen.

bvandepol

SFM holders suffer on a variant of the Stockholm Syndrome

possum-willow

the most ridiculous post i read during the last bull run was on the safemoon subreddit: some guy bought a bottle of vodka and some beef jerky for like 20$ and he paid with safemoon, i think it was around 20 million SFM at the time, and people said that he was like the bitcoin pizza guy. now that 50 million SFM migrated to v2 and its worth like 3 bucks or less lol.

bvandepol

Exactly my point.. Those are more like cults especially SFM

IlIlllIIllllIIlI

Well, people that keep DCAing into SFM or SHIB are just lost souls at this point…

bvandepol

Most ever: BTC, most this year: KAS, most in a short period, SFM

Legal-Bid2695

Been bagholding SFM for years. I look at it as sunk cost, maybe it will get me back to break even someday😂

1078Garage

Seen on the Safemoon sub: “No one else is buying SFM, we're all just holding in hopes that in 10 years SFM will be the meme of the month due to some nostalgic moment and drive the price up so we can all sell.” Oof. Glad I avoided that dumpster fire

bvandepol

What’s insane.. My best was 4400% on SFM

Unhappy-Bank-7554

I'm holding SFM so I'm good.

CVV1

These Twitter threads are so sad. They actually want to blame CDC. I just don’t get it with these SFM people. It’s rough.

Kappatalizable

Still better than anything SFM tried to launch

Altruistic_Box4462

Lmao there's some funny comments in there. "I had 1 million SFM then I got hacked and they left 2 million more in my wallet."

tjackson_12

Bro come on, you haven’t really checked the sub. We all bash on safemoon and their scam team on there. It’s been full of SFM hate for months

OMFGROFLMAO2

After seeing some people still supporting SFM, nothing surprises me anymore.

DizzyMammoth21

Everyone is well aware of SFM and the pending litigation against them… Also SFM doesn’t deserve the right to appear in this subreddit.

DrHunterThompson

Got into crypto March 2021. Jumped into SFM early, got lucky and rode my $100 to 6K. Was naive and uneducated, watched that profit slowly trickle back down as the shitshow unfolded. I know, complete idiot 🤦‍♂️ Was a good learning curve about shitcoins and I know now to take profit.

Kappatalizable

What, you mean people dont trust PEPE and SFM? This is blasphemous

TNGSystems

This same thing happened with Safemoon. The contract owner (likely John Karony) changed the Safemoon contract specifically to allow anyone to burn anyone else’s tokens. “Anyone else” can include the liquidity pool. An exploiter took advantage of this by burning all the Safemoon in the liquidity pool. Because there was then thousands of BNB and only a few thousand SFM in the LP, the exploiter could then “buy” $9m BNB with about $100 of Safemoon. An MEV bot detected this profitable trade and then got in front of it, taking all $9m BNB for themselves. They then negotiated the return of $7m back to Safemoon for a $2m bounty. And still the maxis think Safemoon will have some impressive security features on the exchange despite the fact that they literally accidentally allowed anyone to burn anyone else’s tokens.

Sly_daedalus

i can write you a 101 ways book on getting rekt, thats how experienced i am. From SFM pump and dump of 2021, DOGE SNL crash, putting funds in FTX, i have collected them all..

-geek

This is the response I was looking for. Don't most LP's pay out in the DEX's token? I've only ever farmed 3omb on spookyswap (haha) and defikingdoms jewel. Very interesting stuff, but jewel is native and 3omb was a multilayered ponzi. When you talk about the math in initial liquidity, are you talking about what is being used with the initial supply vs the paired coin? I assume this is how price is set at the beginning? I would ideally like to write this in Pact because my largest bag is Kadena. There isn't as much information on this language so idk about virtually no code.. was thinking of going the fiverr dev hire route. I'm getting flamed on this thread for my first fiat to crypto experience SFM but getting burned by that taught me alot of "valuable" things

_Royal_Insylum

My $2000 of SFM is doing pretty great /s

Sunryzen

The shittier the coin the bigger the gains. OP is trying to FUD SFM to fill his bags before the pump.

Electrical-Lead5993

The way SFM fanatics acted towards their coin was very cult like. I realized early on there’s no point talking with most of them, they’re just not hearing it

Kappatalizable

Safemoon is like the extreme story of shitcoins. Holders were just lied to again and again and again and every single time the insiders would just dump on them. When people say SFM was almost like a cult theyre not joking

crua9

SFM and VET. SFM was just greed. And the fact I thought reflections could pay more than staking. But it's about the same % wise. VET however, I actually thought the tech was useful, but I guess maybe I was wrong. I still have both because at this point there is no point in selling at a 90% or 95% loss

_Royal_Insylum

SFM still gonna make it.. /s

8512764EA

I certainly am. I got in safemoon right at the start, sat at the all time high, and sold for barely a profit. SFM was my first crypto and I wondered over here and was like “moons, what a stupid name for a crypto” and here I am 2 years later.

DrunknSatoshi

Instructions unclear…all in SFM…leggo!

Trailaimed

This sub hates HEX and SFM too, i wont be touching those even if i believe in inverse r/cc so i will let you be the judge here. Its been a joke i guess lol

bvandepol

SFM is a sect Don’t try to understand it

TNGSystems

Yeah so there were two main LP’s, the original PancakeSwap one I call PCS1, this was hard-coded into the Safemoon contract, so liquidity generated from people trading the tokens would be sent here automatically. Pancakeswap then had to upgrade their systems and it necessitated every token pair to run from a new pool, Safemoon included. This is PCS2. What the Safemoon team needed to do was to migrate liquidity from PCS1 to PCS2, an easy job - just perform a “remove liquidity” function on PCS1, then perform an “add liquidity” function on PCS2 - essentially just moving liquidity over. This would have to be continually performed because the Safemoon code couldn’t be changed, but it’s an easy job and they did it once in early May 2021. But then they realised what I like to think they thought of as a free money glitch. They (John & Thomas) would remove liquidity from PCS1, which means they withdraw tens and tens of millions of dollars of BNB & SFM tokens, in one instance $74m was withdrawn, and then instead of adding it all back in to PCS2, they would actually BUY themselves SFM tokens with the BNB, which caused the huge price spikes in early 2021 you see on the chart. In fact, in less than 30 minutes they market bought $34m of Safemoon tokens which caused an artificial All Time High. So at this point the BNB is now in PCS2, and Safemoon now hold PCS1 SFM tokens (from liquidity removal) and PCS2 SFM tokens that they just bought. They then send these tokens to Bitmart to sell for tens and tens of millions of dollars. So that’s probably why Thomas got such a dirty look when he mentioned LP as a plural - they didn’t want to draw attention that they were fiddling cash and stealing it from the Safemoon Army.

bvandepol

Didn't buy anything until 2021. BNB was the first I bought to swap it for SFM (hilarious) I started mining BTC in 2012 and did stocks in between those years.

DrunknSatoshi

Instructions unclear…sold my BTC for SFM

NumbLikeMe

But it does keep happening. DOGE, SHIB, SFM, PEPE. I just want to make sure I'm early for the next 1000x 🤑 /s

Slewy_N_Kloakus

*quietly mumbling under my breath while everyone in the room is talking about important stuff*... SFM

goodburbon1

Disadvantages far outweigh any perceived advantages at this point. Ex. I decided to withdraw some currency. It took 7 transfers and cost $30 in gas and exchange fees to withdraw $300. To add insult ,next year, I have to report all of those transactions on my taxes. There is no way someone like my mother could have handled the transaction. Add to that there are no consequences for scamming, and most "vendors" who accept crypto are just scammers. Plus, I've got at least 2 cryptos that have no off ramps that I can find without paying 30% in fees and the .gov is just dying to stick their...fingers into it even more. Based on outcomes, my previous judgment, and how i see no hope... I have to be bullish because the market always does the opposite of what i think it logically should. So buy SFM? I mean, it makes zero sense, i think its a loser and a scam but im always wrong, so it has to be right!

Kmyre5

SFM, Algo, Shib, Hex, Pulse - most of us will agree with you. The rest is plain trolling. Also, i am not familiar with ripple token. Is it something new?

Josefumi12

This is ridiculous. I'm 100% more confident that Moons will be able to reach $1 than SFM in the bull run later.

Kappatalizable

SFM holders are probably still waiting for it to hit 1$

kruthikv9

Good luck who take my collection of SFM, Shib and Eth dust

Kappatalizable

HEX community sounding more and more like SFM community ngl

Backuppedro

I forgot this one. Theres so many it really is hard to choose the worst or most disliked. SFM would be right up there on the list though

OMFGROFLMAO2

I honestly can't believe, after everything that's been happening over the years, people truly think SFM is a game changer. People keep thinking it can flip Doge, and some even BTC. At this point I just want to project to fail so that those poor people stop putting money on it. Although, they'll probably find another stupid coin to syphon their money in and blame the world for the FUD. Like they say, it's easier to scam someone than to convince them they were scammed.

CryptoDad2100

Is it too much to ask for ChatGPT to build me an arb bot and just do everything for me? Even an AI should be able to dupe the SFM clowns

Giga79

You don't know how bridges work, how to read a DEXs liquidity, what a whitepaper is or isn't. You've provided zero objective facts in this conversation. Practically everything you've said is wrong. I don't have time to debunk your theories line by line, and you've disregarded everything I've said up to this point so it would be a waste of both our time. 30% APR is not sustainable without operating a ponzi.. Single sided staking still has a ton of risks. You don't know what gas fees are either, it seems. You say Richard Heart is not a scammer despite him obviously being a serial scammer. Safemoon DEX and bridge works too. Safemoon is still also a scam, believe it or not - but you likely own a lot of SFM too by my judgement, and I don't feel like explaining to you why it is a scam because that is not my job. You do you, I know to steer clear. You have thoughts of grandeur and delusions like a schizophrenic or bipolar person, and you write like you're in the middle of a manic episode. There is no point in my having this conversation with you in this state. The things you say are so false I don't even know how to respond to you. DEX volume is easy to fake. No, not using 2c wash orders. You will learn all this in time. Wish you the best. This will be my final reply so pls don't waste time on any more unformatted walls of text. Cheers!!

Simke11

Yeah it's kind of like bashing SFM on SafeMoon sub.

CryptoDad2100

My man lowkey talking about SFM, a bit late though

_Royal_Insylum

Surprised SFM didnt make the cut

TNGSystems

You seem to have some trouble deciphering the definitions of both fraud and theft there, chump. Perhaps bone up on what does and doesn’t constitute fraud & theft before you slither over from twitter to spew your filth here. **FRAUD** - wrongful or criminal deception intended to result in financial or personal gain. **THEFT** - Theft is defined as the dishonest appropriation of property belonging to another with the intention to permanently deprive the other of it Reddit minting moons and splitting them among users and moderators - not fraud. Not theft. Braden John Karony promising the LP is locked and then pillaging it like a Viking freshly landed on the eastern shores of England - fraud. Braden John Karony implementing a hasty 100% transaction tax and keeping the SFM & BNB taxed for his own gain - theft. Braden John Karony using stolen LP assets to purchase Safemoon tokens on the open market, pumping the price, then sending them to Bitmart for sale and spending the tens of millions of dollars he’s received on a Mansion, more properties, sports cars, personal investments, designer clothes and expensive jewellery - theft. Ciao 😘

CVV1

Is it even LEGAL for him to call SFM token owners "investors"? Would that suggest SFM is a security? Not to defend John Karony...but there might be a pretty simple explanation to this.

Asleep_Ambassador_66

Top shitcoin with a lot of followers: SFM

Simmy_P

I got in on SFM pretty early. Could have cashed out early for a tidy profit but didn't (lessons learned). I didn't put in lots of money so just thought I'd ride out out. Oh my god, what a shit show it's been over the past 18 months. I definitely see it as my rite of passage or entry fee to getting into crypto. Will be more mindful of where my money goes in future! At least I can look back on it and laugh. But I do feel for those who did put huge sums of money in to it (to some degree).

MaeronTargaryen

SFM has become a Safe Moon farming technique now. Ironic

rootpl

SFM-20 tokens asemble!

Baecchus

Sunk cost fallacy. Very dangerous. OP might end up like SFM holders.