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The original was posted on /r/cryptocurrency by /u/TNGSystems on 2023-10-04 14:33:01.

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I didn’t think I was immature enough to start this with a spooky cOuLD ThIS be tHe ENd?? but… cOuLD ThIS be tHe ENd??

I don’t think so. Safemoon, AKA The turd that just won’t flush has been firing off large swathes of cash that mostly originated from misappropriated LP funds onto various exchanges like Gate, Kraken and Circle. Let’s take a peek!

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At the start of the year, Safemoon LLC had at least $10,000,000 in funding spread across multiple wallets on BSC & Ethereum. The source of almost all of this cash came from Liquidity Pools, therefore it’s pertinent to state that Liquidity Pool funds used for non-liquidity purposes are a fraudulent use of the cash, and selling them for personal gain is theft.

Using Arkham Intelligence tools I’ve added every single wallet that John Karony owns or controls to an “entity” and then I can monitor this entity for movements of cash.

In March, Safemoon liquidity pool was drained for $9m in BNB. Through negotiation, Safemoon was able to recover $7m of the BNB back. Let’s look at how assets have been drained since then.

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Since May, John has sent the following assets off-chain to exchanges to be liquidated.

Treasury Wallet

$8,051,000 BNB has been swapped to BSC-USD and sent off chain to Gate.io

This chart is the BNB balance of the Treasury Wallet. It used to have 13,717 BNB in it. Now it has 0.

Devil Wallet

$4m was transferred into this wallet from John’s “Devil Wallet”, named because of the 0x666 wallet address. Since May, it’s sent $1,377,000 to various exchanges such as Circle, Kraken & Wintermute OTC.

LBank Tax Collection wallet

Relatively small fry but it’s sent $189,000 to Kraken in August

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John’s or Safemoon’s remaining on-chain assets are as follows:

$19.35m Safemoon tokens

$2.74m USDC

$332k ETH

$216k BNB

$63k USDT

1 BTC

The Safemoon tokens are utterly worthless to John. There is only $1.9m of liquidity left on the Safemoon DEX. This means that if John were to sell even $1m of his $19.35m tokens, it would cause at least a 35-40% price impact - Resulting in Safemoon gaining another 0.

So putting SFM tokens aside, it’s approximately $3,378,000 of on-chain assets remaining… When at the start of the year it was well over $10,000,000.

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While to anyone with more than 6 functioning braincells this spells disaster, the Safemoon maxis are of course spinning up the excuse-machine, insisting that John is biffing USD out to any exchange he can in order to err… get liquidity to use on the Safemoon exchange? I guess?

Despite there being more than 2 years of clear evidence showing John’s propensity to take Safemoon liquidity money, send it to an exchange, withdraw the cash and use it to buy himself mansions, sports cars, jewellery and the rest of it.

Ah well, I’ll be spectating from above while Safemoon Maxi’s are busy enjoying Oblivion.