Pepe confirms former team members stole $15 million from multisig wallet

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By BitcoinWiki News

Key Takeaways:

– Three former colleagues of the Pepe memecoin project stole approximately 16 trillion Pepe tokens ($15 million) from the project’s multisig.
– The stolen tokens were sent to OKX, Binance, Kucoin, and Bybit before being sold.
– The multisig was reduced from a 5/8 signer count to 2/8.
– Pepe experienced a surge in value after its launch in April, reaching a peak market cap of $1.5 billion in May.
– The stolen tokens represent around 4% of the token supply, with the multisig still holding approximately 10 trillion tokens.
– The remaining team member apologized for the actions of the former colleagues and pledged to transfer the remaining tokens to a new wallet.
– The remaining tokens will be used for purchases or donations for the project before being burned, leaving the project in a more decentralized state.
– Following the multisig transfers, the Pepe token saw a drop in value but has been trading relatively stable compared to its memecoin rivals like Dogecoin and Shiba Inu.


The remaining team member behind the Pepe memecoin has accused three former colleagues of stealing approximately 16 trillion Pepe tokens (worth $15 million) from the project’s multisig. These tokens were then sold on crypto exchanges, and the individuals responsible deleted their social accounts. The last multisig controller left at the project revealed that the tokens were sent to OKX, Binance, Kucoin, and Bybit before being sold. The multisig count was reduced from 5/8 signers to 2/8. Pepe experienced a surge in popularity after its launch in April, with its market cap reaching $1.5 billion. However, the value of the token abruptly fell, and the stolen tokens represent about 4% of the token supply. The remaining signer assured users that the remaining tokens and their Twitter account are safe. The Pepe project has been plagued with bad actors driven by “big egos and greed” who have hindered progress. The remaining signer apologized for the fear and potential losses caused by these actions and said the remaining tokens would be transferred to a new wallet for future use or burn. Following the multisig transfers, the value of the Pepe token dropped but has since fluctuated. Meanwhile, other memecoins like Dogecoin and Shiba Inu have seen gains.

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