2023-08-29
On August 24, 2023, the crypto community noticed $16 million worth of
Pepe tokens withdrew from Pepe multisig wallet and sent to many crypto exchanges.
These crypto exchanges including
1. $8.36 million
Pepe tokens sent to OKX.
2. $6.6 million
Pepe tokens sent to Binance.
3. $ 438,000 Pepe
tokens sent to Bybit
4. $400,000 Pepe
tokens sent to either an unknown exchange or unknown wallet.
Three Pepe team members cashout $15,798,000 worth of Pepe tokens by
selling about 16 trillion Pepe tokens (4% of total supply) on crypto exchanges. They left 10.6 trillion tokens in the multisig wallet and later those 10.6 trillion were transferred safely the a new address.
Pepe’s official Twitter account claims that the withdrawal were made by 3 team members, not all team members. These 3 members are no longer involve in the Pepe project.
“The multi-sig was setup to require 3/4
signers present for an approval. Yesterday these 3 ex-team members came back
behind my back, logged onto the multi-sig, stole 16 Trillion/ 60% of the 26
trillion multi-sig tokens, and sent them to exchanges to sale. They then
removed themselves from the multi sig in an attempt to absolve any association
to $PEPE, deleting all of their social accounts and leaving me behind nothing
but a message stating “the multi-sig has been updated, you are now in full
control.”
Pepe has max supply of 420.69 trillion tokens. It currently
has fully diluted market cap of $351.47 million and ranks 92nd
largest crypto by market cap.
