CryptoMediaClub
Monday, July 7, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Altcoins

PEPE Team Addresses 10 Trillion Fund Transfer And Recent Dump

26.08.2023
A A
0
130
VIEWS
ShareShare

Pepe Team Addresses 10 Trillion Fund Transfer And Recent Dump

  • Pepe’s multisig wallet hacked; 16T tokens ($15M) sold.
  • Discord within team, leaving lone member in charge.

In an unexpected turn of events on August 24th, 2023, the infamous memecoin Pepe community was rattled by a series of transactions involving the project’s multisig wallet. Approximately 16 trillion PEPE tokens, valued at around 15 million USD. They were transferred from the wallet to multiple crypto exchanges, including OKX, Binance, Kucoin, and Bybit. The shocking move significantly reduced the required signer count to 2 out of 8 wallets. It left the multisig with 10 trillion tokens and a solitary signer.

In a bid to provide clarity to the community, an anonymous founding member came forward to share their perspective on the situation. According to their account, the project had been plagued by internal strife from its inception, characterized by clashes among team members driven by greed.

Meanwhile, the project’s multisig wallet, crafted to mandate approval from 3 out of 4 signers for transactions, took center stage in the controversy. The founding member asserted that the three ex-team members, previously disconnected from the project, abruptly resurfaced. Allegedly, they illicitly accessed the multisig, absconding with 16 trillion tokens—equivalent to 60% of the total—before proceeding to offload them on exchanges.

an announcement to the $PEPE community:
Yesterday on August 24th, 2023, a series of unexpected transactions took place from the $PEPE multisig CEX
Wallet in which ~16 Trillion $PEPE tokens (worth roughly $15m USD) were transferred to various crypto exchanges (OKX, Binance,… pic.twitter.com/iZmXV1TAvw

— Pepe (@pepecoineth) August 26, 2023

What Lies Ahead?

Expressing shock at the developments, the remaining founding member issued an apology to the community for the uncertainty caused. And assured the community that control over the official Pepe twitter account. And the remaining 10 trillion tokens remained secure and protected from the ex-team members.

Once all is set and complete, I would like PEPE to be left in a position where it can stand and thrive as strong as ever in a truly decentralized and anti-fragile state. Together, we are all PEPE.

said the anonymous founder.

Furthermore, they disclosed their intention to transfer the remaining tokens to a new wallet while awaiting a definitive resolution. Additionally, they suggested the prospect of burning tokens upon finalizing pending acquisitions or donations.

However, The response from the community varied. With some expressing optimism about the announcement expecting a bull rally. And others raised skepticism and questioned the credibility of the provided information.

Finally after the announcement PEPE saw a mild surge of 1.16% in 24 hours. It rebounded from its consequent 16% percent dump cause of the allegations and now the price stands at $0.0000008971.

Share10Tweet6ShareSharePin2

Related Posts

Solana gains 80% in a month as Firedancer goes live on testnet
Altcoins

Solana gains 80% in a month as Firedancer goes live on testnet

02.11.2023
0

Solana (SOL) has posted 30-day gains of nearly 81%, and has rallied over 30% in the past week amid the...

Read moreDetails
Price analysis 10/30: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON

Price analysis 10/30: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON

30.10.2023
Bitcoin price hovers near $35K as ETH, APT, QNT and RUNE turn bullish

Bitcoin price hovers near $35K as ETH, APT, QNT and RUNE turn bullish

30.10.2023
Chainlink leads the market with 61% weekly gain — What’s driving LINK price?

Chainlink leads the market with 61% weekly gain — What’s driving LINK price?

27.10.2023
FLOKI price soars 140% in a week — Are memecoins like DOGE, PEPE finally waking up?

FLOKI price soars 140% in a week — Are memecoins like DOGE, PEPE finally waking up?

27.10.2023
Load More
Next Post
SEC vs. Ripple: Pro-XRP lawyer urges Clayton, Hinman testimony

SEC vs. Ripple: Pro-XRP lawyer urges Clayton, Hinman testimony

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Binance Unveils Capital Connect for VIP Clients

2 years ago
Models Show Ethereum Promise Even After This Weeks 12% Decline

Models Show Ethereum Promise Even After This Weeks 12% Decline

7 months ago
U.S. Regulators Compete for Oversight of Crypto Market

U.S. Regulators Compete for Oversight of Crypto Market

2 years ago
Blockchain ETFs Get More Popular Amid Rising Returns

Blockchain ETFs Get More Popular Amid Rising Returns

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

Bitcoin Price Prediction: Post-$50B Whale Dump, BTC Price Holds Steady – Can Institutional Control Drive New Highs?

Why Snaky Way’s $AKE Token Is More Than Just a Meme Coin, Presale Ongoing

Ripple (XRP) Holders Achieve Financial Freedom by Starting Dogecoin (DOGE) Mining Machines through Blockchain Cloud Mining

PEPE Whales Accumulate Amid Market Volatility: Is a 200x Rally Coming?

Trending

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH
All news

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

07.07.2025
0

A sophisticated cyberattack on C&M Software, a technology provider for Brazil’s Central Bank, has triggered a wave...

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

06.07.2025
Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

06.07.2025
Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

06.07.2025
XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

06.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz