One of crypto's favorite meme coin projects from 2021 just got charged by the SEC.And yes it is Safe Moon and these guys were 100% bad actors.No, I'm not going to shame anyone for participating in Safe Moon, but I am going to talk to you about different ways on how to not get dumped on.

But first let's explain about what the SEC is going after Safe Moon for.So back in 2021, Safe Moon pumped around 55,000% from March 12th to April 20th.The market cap touch 5.7 billion before its price fell 50 when the public learned that the liquidity pool was not locked as the team claimed.And again, this was being explained about all over.

The SEC has charged a Safe moon, Safe Moon USLLC, the founders and other executives for perpetuating a massive fraudulent scheme through unregistered sale of crypto asset, the Safe Moon token.The SEC said they promised to take the price of the token safely to the moon, but instead they wiped out billions in market cap, withdrew over 200 cleaning crypto and misappropriated investor funds to buy cars, travel properties and a bunch of other terrible things.

Basically scammed everyone in life in marketing the token.The SEC claims the creditor issued investors that funds were locked and could not be withdrawn by anyone, including a team while held in the liquidity pool.Again, This is why blockchain technology is so important.

Anyways, large amounts of the LP was never locked like a team claimed and after the price dump, the team allegedly used these funds or the assets to make large purchases of the token to pop up its price and manipulate the market.They also allegedly traded to create the impression of market activity, which is also known as wash training.

OK, So what can you do to avoid this happening to you again?Well, first and foremost, do your due diligence, do your research.Understand that there's a difference between mean projects and other projects.Even with those, you still need to do your due diligence.Have a trading or investing drill right down the risk, right down, a bullish case, a bearish case, the diamond hand strategy, if that's what you want to do, that's your business.Once you put a little bit of money in, number goes up, you pull out enough for taxes, for your initial investment, all that type of stuff.

I think people should be able to do what they want to do with their money.But you do need to understand the risk and even though this is very unfortunate for the entire Safe Moon community, please understand you should always consider taking profit, removing a little bit of risk and removing and practicing risk management. please consider the moon bag strategy, practice risk management, remove initial investment and understand even in stocks you still can get scam that's happens there as well.Bye