Safemoon's V1 100% tax results in the theft of $6,300,000 from holders - and that's just what I've found so far.

The dumbest mistake Safemoon made was thinking they could get away with theft on a public ledger.

A catch up if necessary

On December 29th at 16:00 UTC, Safemoon implemented a 100% tax to discourage arbitrage trading, and announced this just 1.5 hours previously and only on limited social media channels.

If you bought, sold or transferred Safemoon after this date, your tokens were taken from you and sent to the Liquidity Pool, where they have since been withdrawn several times (Look at the big spike that started on December 29th, these vipers knew what they were doing and withdrew straight away).

The legality of this is still under review, and after ignoring it for months and months, the folks over at SafeMoonCase jumped on the back of an existing lawsuit for Safemoon (alleging a pump & dump scheme) and submitted a new class-action lawsuit, demanding Safemoon return the stolen tokens, and giving them the standard 14 days to respond. Safemoon did respond on the 13th day, but only with a generic "We're looking in to this", with no indication of urgency, timescales or how it will happen.

Thankfully, the blockchain is public and with a little sleuthing I have discovered an easy and verifiable way to tally up all of the stolen funds. And yes, I'm using "stolen" here because I believe that the act of ruthlessly taxing transactions at 100% constitutes theft.

First, you find a site that will let you query the Binance Smart Chain. I found one that lets me query using SQL, which is a language I have some experience in. And now I'm going to show you how to do it.

If we look at a simple "taxed" transaction hash, we get this:

This transaction for 990 million Safemoon, worth approx $1,000 at time of transfer, was taxed 100%

You can see the "output" of this wallet-to-wallet transaction was 0.0000001 Safemoon. To find the input is a little trickier, you need to look at the raw transaction data, which is this:

Function: transfer(address recipient, uint256 amount) MethodID: 0xa9059cbb [0]: 000000000000000000000000c8ff694f4aed464e78123701b0c6cd6ef4b3b54c [1]: 0000000000000000000000000000000000000000000000000dbe14ef8f2d8773 

See that second part of the bracket? The value is stored as a uint256 figure (Hex), so you need to convert it to Decimal, which is the second line (ending 8773). You must input "dbe14ef8f2d8773"

This returns 990251987199952800, which is missing the decimal place. Divide it by 1000000000 (1 with 9 zeroes) and that finally returns 990251987.199952

And there you have it. The input of the transaction, or the Safemoon that was attempted to be sent, was 990,251,987, approximately $1,094, and the Safemoon Developers stole this by enacting an unethical 100% tax. You can get the transaction value by looking at historical Safemoon V1 prices on CoinMarketCap

So now we want to get EVERY transaction that was stolen. That's easy enough. You create a query that looks to get ALL transactions on the Safemoon V1 contract AFTER 2021-12-29 16:00, where the MethodID of the transaction is "transfer" (this is people attempting to move Safemoon from one wallet to another), and where the transaction was successful (I.e, it didn't fail due to low BNB for gas)

This gives us a whopping 44,718 lines. But 9,233 of these transactions were whitelisted and actually not subject to the 100% tax! (It's still unclear why so many wallets appear to be whitelisted)

However, the other 35,485 transactions since the 29th December 2021 were taxed at a 100% rate, and here's what Safemoon collected:

3.93 TRILLION Safemoon V1 tokens

Worth approximately $6,309,371 at time of transfer

I've got some more stats you may find interesting:

The largest amount of tokens taxed in one go was on the 7th March 2022 where over 210 BILLION tokens were taxed, at an approximate value of $105,737. Here is the transaction.

The largest value of tokens taxed in one go was $171,337, where 85 BILLION tokens were taxed on the 31st December 2021, Happy New Years to that poor bastard.

In just these two transactions, Safemoon developers stole over $277,000.

The most tax taken in one day was from 3,090 different wallets, on the 31st December, worth 625 Billion Safemoon, valued at $1,259,035 - not bad for a day's work.

Anyone want a reminder of the opinion of the Safemoon community to those who lost all their money via tax? Luckily, I documented it here so you can see what the "Safemoon Family" thinks about people who didn't check every single facet of Social media before sending a fucking transaction.

In my opinion, the actions of both the Safemoon development team and the community that praises them and fiercely opposes all criticism is frankly disgusting.

But wait, there's more!

This is JUST the "Transfer" transactions, I'm still yet to uncover purchases, sales or token swaps, which were also taxed at 100%. I will either update this post if I can figure it out tonight, or create a new one in the future.

As a closing statement, I just want to say that I hope the Class Action Lawsuit fucks the Safemoon devs. This shit is worse than Bitconnect in my opinion, this is not just misleading investors (which they are due in court for), it's straight up theft too. I hope jailtime is doled out.

But even then I have my doubts that it will change the minds of the Safemoon faithful.