SafeMoon working to ‘rectify’ situation after $8M exploit, says CEO

SafeMoon (SFM) CEO John Karony has issued a connection pursuing the exploit of the decentralized concern exchange.

In an email sent connected March 29, Karony said that SafeMoon was moving to “rectify” the exploit that saw much than $8 cardinal successful funds drained from the liquidity pool connected Mar. 28 owed to an exploit of its LP.

“We tin corroborate that we volition beryllium reintroducing liquidity to our LP arsenic soon arsenic is practical, but immoderate relationship features whitethorn beryllium constricted during this period. We volition support our assemblage updated successful the coming hours and days and convey you each erstwhile much for your patience and understanding.”

On March 28, SafeMoon suffered what blockchain information analysts dubbed a “public pain bug,” which experts said allowed tokens to beryllium burned, starring to a terms summation of the SFM token.

SafeMoon dodged by allegations

Since its inception, however, SafeMoon has agelong dodged accusations of sketchy behavior.

In 2022, the task faced terrible disapproval from Coffeezilla, a YouTube big who accused the project’s erstwhile CEO, referred to arsenic “Kyle,” of fraudulent activity. Additionally, Coffeezilla accused SafeMoon’s existent CEO, John Karony, of stealing from the project.

The existent terms of SafeMoon is $0.00021, down -11.87% successful 24-hour trading.

SFM 1-day illustration (Source: CryptoSlate)

The station SafeMoon moving to ‘rectify’ concern aft $8M exploit, says CEO appeared archetypal connected CryptoSlate.