Pepe founder blames ‘nefarious ex-team members’ for unexpected $16M withdrawal
The Pepe founder has vowed to burn the remaining tokens from the affected wallet after paying for necessary purchases or donations.
The Pepe founder has vowed to burn the remaining tokens from the affected wallet after paying for necessary purchases or donations.
On Aug. 24, 16 trillion Pepe tokens (PEPE), worth around $15.7 million at the time, were unexpectedly withdrawn from the project’s multi-signature centralized exchange wallet. An anonymous founder of the meme coin pointed the finger at three former team members as the culprits behind the transfers in a post on Aug. 25.
The transfer, in which around 60% of the PEPE tokens in the multi-sig wallet were moved, sparked speculations of a rug pull. The stolen Pepe price of PEPE fell 15%