Decentralized finance project SafeMoon, which was charged by the United States Securities and Exchange Commission (SEC) for security rules violations and fraud, has said that it is closely examining recent developments and will work to resolve the situation promptly.
According to a statement made by the project on X (formerly Twitter), its teams are actively developing and remain committed to serving users, advancing the project’s vision and pursuing its mission.
SafeMoon was exploited in March, resulting in a net loss of $8.9 million in BNB (BNB). The capital linked to the security breach has been moving through centralized exchanges (CEXs), with blockchain analysis company Match Systems suggesting these transactions may hold significant relevance for law enforcement authorities.
We are reviewing the recent news and we of course take these issues extremely seriously.
As we receive more information, we will do our best to address the situation as quickly as possible.
In the meantime our teams continue to build and we keep our focus on delivering for…
— SafeMoon (@safemoon) November 2, 2023
According to an analysis by Match Systems, the attacker took advantage of a vulnerability in SafeMoon’s smart contract related to the “Bridge Burn”…
