Popular Meme Coin Gets Shrouded In Controversy
As per information provided by the official PEPE Twitter account, certain members of the PEPE core team have allegedly sold around 16 trillion tokens (equivalent to $16 million) without prior notice.
According to the official statement, precautionary measures were taken by reducing the required number of signatory wallets for the multisig wallet to 2 out of 8. Initially, there were 10 trillion PEPE tokens in the multisig wallet, but now only one signature wallet remains, which is secure.
The remaining team members have indicated that the PEPE altcoin encountered disruptive and avaricious individuals within its ranks. These individuals, who reportedly impeded progress since the early days, have reportedly been removed.
Regarding the sale incident, the sole remaining signatory team member revealed being betrayed during the event. Allegedly, three malicious team members exploited the opportunity to sell 16 trillion PEPE tokens via the multisig wallet. Afterward, they attempted to run away by removing all traces of themselves in the multisig wallet.
The team member who stayed behind stressed that the tokens sold were never intended for sale and that the remaining tokens are securely held. Additionally, control of the PEPE Twitter account has been retained by this remaining team member.
The final team member also expressed a desire to transition PEPE into a fully decentralized state once all ongoing transactions conclude. This series of events has shed light on significant disagreements within the official token team and the subsequent token sale. The veracity of the statements made by the wallet claiming to be the sole remaining member remains uncertain.
Top News
4 days ago
5 days ago
16 days ago
More From The News
Press Releases
Payments
New Payment Limit For Crypto Wallets Scrapped
The recent Anti-Money Laundering re... Read more
Bitcoin
Bitcoin Undergoes Price Correction As International Economies
A significant portion of the crypto... Read more
Join Our Newsletter
Get the latest trends and updates on our crypto community.