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DeFi protocol SafeMoon has officially filed for bankruptcy.

BlockBeats reported on December 15th that DeFi protocol SafeMoon has officially filed for bankruptcy under Chapter 7 of the US Bankruptcy Code. Previously, the US SEC accused SafeMoon LLC, its founder Kyle Nagy, SafeMoon US LLC, CEO John Karony, and CTO Thomas Smith of conducting a large-scale fraudulent scheme through unregistered crypto asset security SafeMoon within the BNB Chain ecosystem of DeFi protocols.

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