Pepe Addresses Peculiar PEPE Token Transactions

PEPE X clarifies recent transactions from the PEPE deployer, acknowledging awareness of the activity but refraining from detailing specific transactions in the tweet.

Cryptos Headlines Token Airdrop Is Live, Claim $50 Worth Of 5000 CHT Token Free On CryptosHeadlinesToken.com

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

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.

Cryptos Headlines Token Airdrop Is Live, Claim $50 Worth Of 5000 CHT Token Free On CryptosHeadlinesToken.com

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.

 

Join Cryptos Headlines Community

Follow Cryptos Headlines on Google News

Author

  • SHBAZ

    A crypto enthusiast, Loves to write, Loves to explore and stay up-to-date about the latest developments in the crypto world. #Btc #Crypto #NFT

Leave a Reply

Your email address will not be published. Required fields are marked *