PEPE X clarifies recent transactions from the PEPE deployer, acknowledging awareness of the activity but refraining from detailing specific transactions in the tweet.
PEPE disassociates itself from the unusual activity, clarifying that transactions originating from the deployer wallet, both past and future, are unrelated to the current PEPE team.
Clarification Regarding PEPE Transactions
It has come to our attention that there has been a recent action in the $PEPE deployer. These transactions and any future transactions from the deployer wallet have no association to the remaining team of $PEPE and Pepe is not associated with any other projects or tokens. These… pic.twitter.com/4qjLNqkYgr
— Pepe (@pepecoineth) January 26, 2024
PEPE further asserts that it maintains no affiliations with other projects or tokens. The team attributes the recent transactions to former team members who illicitly accessed the PEPE treasury, as previously observed in an incident dating back to August 2023.
During that event, rogue developers conducted unauthorized transactions from the project’s multi-sig wallet, resulting in the misappropriation of millions of dollars in PEPE funds.
PEPE Token Incident Clarification and Token Management
After the incident, the PEPE team took proactive steps to address the situation by transferring the remaining 10 trillion tokens to a new wallet for secure storage until future use or burning.
Subsequently, PEPE proceeded to burn 6.9 trillion tokens out of the 10 trillion remaining tokens, aiming to mitigate the impact of the theft incident.
Additionally, the project announced the enlistment of a new team of advisors to facilitate its progress and explore potential strategies for utilizing the remaining 3.79 trillion tokens, which were attributed to the previous team’s CEX multi-sig wallet for potential strategic partnerships and marketing endeavors.
As of the latest update, the frog-themed meme coin Pepe (PEPE) has experienced a modest uptick of 0.95% in the past 24 hours, reaching a value of $0.000001083.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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