DOJ Recovers $680K From Safemoon Exploit—But Questions Remain
The U.S. Department of Justice just clawed back over $680,000 stolen in a cryptocurrency scheme tied to Safemoon, a token that’s since collapsed. The money’s being returned, but the whole thing feels messy—like one of those heists where the thieves didn’t even stick around to spend the cash.
According to the DOJ’s June 12 announcement, the funds were recovered through civil forfeiture, a legal workaround when no criminal charges are filed. That’s the first odd detail here. Nobody’s been arrested. The original hacker? Gone. The trading bot operator who intercepted part of the loot? Also vanished.
How the Exploit Worked—Sort Of
Back in March 2023, someone found a flaw in Safemoon’s smart contract—specifically, the part handling liquidity pools. The exploit let them artificially mess with token burning, a process meant to reduce supply and (theoretically) boost value.
But here’s where it gets weird. A separate trading bot apparently caught the manipulation mid-swing, rerouted the profits, and then—get this—the bot’s owner reached out to Safemoon to cut a deal. They’d keep 20% as a “finder’s fee,” return the rest, and everyone walks away. Except the FBI didn’t like that plan.
The Money Trail Leads… Nowhere?
By May 2023, the feds had seized the funds from OKX, a crypto exchange. The haul included nearly $680,500 and around 481 BNB tokens. That’s roughly half of the 20% cut the bot operator tried to pocket.
Safemoon, meanwhile, has filed for bankruptcy. The recovered cash is going to the bankruptcy trustee, not directly to investors. And honestly, it’s unclear how much of the total stolen amount this actually covers. The DOJ’s release is careful with wording—”over $680,000″ doesn’t mean all of it.
Why Civil Forfeiture? And What’s Next?
Without criminal charges, the DOJ leaned on civil court to reclaim the assets. It’s a slower process, open to challenges, but sometimes the only option. The bigger question is whether this signals a shift in how authorities handle crypto crimes—going after the money first, suspects later. Or never.
For now, the case feels half-finished. Funds recovered, but no names, no arrests. Maybe that’s enough. Or maybe it’s just the start. Either way, it’s another reminder that in crypto, even the scams can get scammed.
