Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Gemini Dethrones ChatGPT as GOOG Hits $3 Trillion

16/09/2025

Coinbase, Circle, Strategy, MARA Lead Crypto Stock Post-Rally SellOff

16/09/2025

CBDCs close Orwell’s ’1984 loop perfectly,’ think tank says

16/09/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Price Breaks All-Time High Record Again – Here’s What We Know

    04/08/2025

    Bitcoin Switzerland? El Salvador to Host First Fully Native Bitcoin Capital Markets

    04/08/2025

    Bitcoin Breaks $119K, but XLM and HBAR Aren’t Impressed by Its Meager Percentage Gain

    04/08/2025

    High-Stakes Consolidation Could Define Q3 Trend

    04/08/2025

    Ether could see the ‘biggest bear trap’ this month: Analysts

    15/09/2025

    Ethereum Whale Cashes Out Millions in DAI After Price Rally: $13.2 DAI Earned

    15/09/2025

    can $4,300 support prevent a deeper correction?

    15/09/2025

    Analyst Reveals Ethereum (ETH) Expectations for September and October! “The Biggest Bear Trap Could Be Coming!”

    15/09/2025

    The Sui Ecosystem’s Top 3 Altcoin Performers

    29/07/2025

    Floki Launches $69000 Guerrilla Marketing Challenge With FlokiUltras3

    28/07/2025

    Crypto Beast denies role in Altcoin (ALT) crash rug pull, blames snipers

    28/07/2025

    $1.6 Billion XRP Surge: Here’s What’s Unfolding

    28/07/2025

    American Express Introduces Blockchain-Based ‘Travel Stamps’

    15/09/2025

    NFT sales show modest recovery, Pudgy Penguins jump 110%

    14/09/2025

    Twerk From Home Aims to Become the UFC of Exotic Dancing—With a Crypto Boost

    13/09/2025

    Crypto.com Launches Champions Collection With UEFA Experiences and Final Tickets Up for Grabs

    12/09/2025

    Gemini Dethrones ChatGPT as GOOG Hits $3 Trillion

    16/09/2025

    Coinbase, Circle, Strategy, MARA Lead Crypto Stock Post-Rally SellOff

    16/09/2025

    CBDCs close Orwell’s ’1984 loop perfectly,’ think tank says

    16/09/2025

    September Fed Rate Cut Is Now a “Go,” Say Barclays and BNP After Powell Speech

    16/09/2025
  • Blockchain

    Gemini Dethrones ChatGPT as GOOG Hits $3 Trillion

    16/09/2025

    Google Gets $35 Billion Offer for Chrome as AI Browser Fight Escalates

    15/09/2025

    Unlocking a Revolutionary Era for On-Chain Finance

    14/09/2025

    Latin American devs favor Ethereum and Polygon over new chains: Report

    14/09/2025

    GrowHub Signs ESG Blockchain Agreement With Republic of Srpska

    14/09/2025
  • DeFi

    It Claimed to Have $12 Billion

    14/09/2025

    Thetanuts Finance Partners with Odette to Debut V4 and RFQ Engine on Base

    14/09/2025

    3 Reasons The Growth Of DeFi Is Lagging Among Institutions

    14/09/2025

    dForce Moves to Integrate AnchorX Yuan-Pegged $AxCNH Stablecoin

    14/09/2025

    Unlocking Massive Value with a Revolutionary Protocol

    13/09/2025
  • Metaverse

    Metaverse ‘still has a heartbeat’ as NFT sales jump 27% in August

    12/09/2025

    CreataChain Joins LightCycle to Advance Fashion, Interoperability, and AI in Metaverse

    05/09/2025

    new institutional ‘trust’ layer to boost tokenized ESG investment

    04/09/2025

    Metaverse developer The Sandbox lays off 50% of staff and pivots to meme coin launchpad

    28/08/2025

    Meta Breaks Up AI Lab as Part of Superintelligence Push

    20/08/2025
  • Regulation

    Coinbase, Circle, Strategy, MARA Lead Crypto Stock Post-Rally SellOff

    16/09/2025

    CBDCs close Orwell’s ’1984 loop perfectly,’ think tank says

    16/09/2025

    September Fed Rate Cut Is Now a “Go,” Say Barclays and BNP After Powell Speech

    16/09/2025

    Tokenized equities could reach $1.3 trillion but regulators claim ticking bomb

    16/09/2025

    Asia’s Stablecoin Competition Sparked by US GENIUS Act

    15/09/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Binance Pay enters South Africa’s checkout lanes through Zapper tie-up

    15/09/2025

    Binance Warns Crypto Projects Against Listing Scams: Details

    15/09/2025

    Revolut Secures UAE Nod for Payments Business, Eyes Regional Expansion

    15/09/2025

    Prediction Market PredictIt Launches in October—Here’s What to Expect

    15/09/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    DeBox Partners with Mythoria to Merge AI-Led GameFi and Web3 Social Ecosystem

    16/09/2025

    Crypto Games Keep Shutting Down. This $500K Fund Aims to Help Players Recover

    14/09/2025

    Conflux Network and Salvo Alliance Targets Scalable Web3 Gaming Adoption

    13/09/2025

    Undeads Games TVL Reached $30M+

    12/09/2025

    Why Bitcoin Miners Are Powering AI’s Expansion

    14/09/2025

    Bitcoin’s Computing Muscle Flexes Harder

    13/09/2025

    Ethiopia is Turning Hydropower Into Bitcoin Mining

    13/09/2025

    Impressive 375 BTC Mined in August

    13/09/2025

    Coinbase-backed petition pushes UK on blockchain and stablecoin policy

    15/09/2025

    China Imposes New Cryptocurrency Bans! Here Are the Details…

    15/09/2025

    Input Output Joins CryptoUK to Help Shape UK’s Digital Asset Future

    15/09/2025

    CFTC Nominee Brian Quintenz tells all in Winklevoss twins fight

    15/09/2025

    Gemini Dethrones ChatGPT as GOOG Hits $3 Trillion

    16/09/2025

    Coinbase, Circle, Strategy, MARA Lead Crypto Stock Post-Rally SellOff

    16/09/2025

    CBDCs close Orwell’s ’1984 loop perfectly,’ think tank says

    16/09/2025

    September Fed Rate Cut Is Now a “Go,” Say Barclays and BNP After Powell Speech

    16/09/2025
  • MarketCap
NBTC News
Home»Altcoins»SafeMoon SFM token drops 6% following $11 million liquidity drain
Altcoins

SafeMoon SFM token drops 6% following $11 million liquidity drain

NBTCBy NBTC29/02/2024No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


More than $11 million worth of digital assets were removed as liquidity from various pools of the controversial crypto project SafeMoon, according to blockchain security firm Cyvers Alert.

Following the news, SafeMoon’s SFM token fell 6% to $0.00003134 as of press time, according to CryptoSlate’s data.

Liquidity removed

In a Feb. 12 post on social media platform X (formerly Twitter), Cyvers Alert stated that it detected an unusual transaction linked to Safemoon. The transaction involved the movement of liquidity from various pools, facilitated by a newly established address labeled as an “approveLiquidityPartner.”

This address executed approximately $11.2 million in transfers, encompassing assets from several blockchain networks, including Ethereum, Binance Smart Chain, and Polygon. Notable assets involved in these transfers include USDC, USDT, Shiba Inu, LINK, Wrapped BTC, and Pepe, as evidenced by on-chain data.

The address holds $1.6 million in digital assets, including Wrapped BTC, USDT, Pepe, Chainlink, and others.

Cyvers Alert questioned the potential connections between these transactions and SafeMoon’s ongoing bankruptcy proceedings.

Bankruptcy update

Last year, SafeMoon filed for bankruptcy protection in the US Bankruptcy Court in Utah. The filing revealed that the company’s liabilities could be worth as much as $500,000, while its assets were valued at more than $10 million.

Earlier this year, the company said it would decommission its SafeMoon Wallet at an undisclosed date.

“In order to insure you will still be able to access any wallets that you have loaded in the application, please secure your Recovery Phrases and/or Private Keys as soon as possible,” it added.

Safemoon faced a series of controversies leading up to its bankruptcy filing, significantly contributing to a decline in its market value. In March 2023, the project encountered a $9 million exploit, resulting in the depletion of its liquidity pool.

Furthermore, in November 2023, the US Securities and Exchange Commission (SEC) levied allegations of fund misappropriation against senior Safemoon executives, accusing them of diverting over $200 million for personal use. Subsequently, CEO John Karony and Chief Technology Officer Thomas Smith were arrested for these allegations.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

The Sui Ecosystem’s Top 3 Altcoin Performers

29/07/2025

Floki Launches $69000 Guerrilla Marketing Challenge With FlokiUltras3

28/07/2025

Crypto Beast denies role in Altcoin (ALT) crash rug pull, blames snipers

28/07/2025

$1.6 Billion XRP Surge: Here’s What’s Unfolding

28/07/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Gemini Dethrones ChatGPT as GOOG Hits $3 Trillion

16/09/2025

Coinbase, Circle, Strategy, MARA Lead Crypto Stock Post-Rally SellOff

16/09/2025

CBDCs close Orwell’s ’1984 loop perfectly,’ think tank says

16/09/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.