Sanasy was one of the key figures behind the launch of SafeMoon in March 2021, a decentralized finance (DeFi) token project that quickly gained popularity. As CTO, he was instrumental in the initial technical development and architecture of the SafeMoon token and its associated ecosystem. SafeMoon's tokenomics included a transaction tax designed to reward existing holders through "reflections," contribute to a liquidity pool, and burn tokens, aiming to encourage holding and reduce supply.
During his time with SafeMoon, the project experienced rapid growth, attracting a large community of investors. However, it also faced significant scrutiny and criticism from financial analysts and cryptocurrency experts. Concerns were raised regarding the project's sustainability, the transparency of its operations, and the substantial wealth accumulated by its founders.
In November 2023, Kevin Sanasy, along with other SafeMoon executives including CEO John Karony and founder Kyle Nagy, was indicted on federal charges in the United States. The charges included conspiracy to commit wire fraud, money laundering, and securities fraud. The indictment alleged that the executives orchestrated a scheme to defraud SafeMoon investors by misappropriating funds from the project's liquidity pool and manipulating the token's price. Sanasy's specific role in the alleged scheme was cited in relation to his responsibilities as CTO and his participation in the overall conduct of the project.