PEPE Token Heist: Former Team Members Swipe $15 Million in Tokens, Lead Developer Vows to Rebuild and Decentralize
Approximately 16 trillion PEPE tokens worth $15 million were illicitly transferred to crypto exchanges and sold, according to an announcement from the meme coin’s anonymous lead developer. The theft was allegedly orchestrated by three former team members who accessed the token’s multi-signature wallet before removing themselves from the project. Despite this setback, the lead developer has promised to continue moving the project forward and to fully decentralize it.
The purported thieves reduced the required signer count for transactions from the wallet to just 2 out of 8 before draining the address of approximately 60% of its holdings. After the funds were obtained, they deleted their social media accounts and disassociated themselves from the PEPE project, the lead dev’s statement claims. Despite this major setback, PEPE’s lead developer is promising to continue developing the meme coin and says the remaining 10 trillion PEPE tokens in the compromised multi-sig wallet are now secure. The developer plans to transfer those tokens to a new wallet and eventually burn all of them to fully decentralize the meme token project.
Source
https://t.me/CryptoNewsSource
