Three Ex-Team Members Allegedly Steal $16 Million from Pepecoin (PEPE) Project, Price Drops by 15%
Summary:
Three ex-team members of the Pepecoin (PEPE) project allegedly stole $16 million from the multisig wallet, causing a 15% drop in PEPE's price. The remaining member assures the community that the remaining funds are safe and will be transferred to a new wallet. Price of PEPE has increased by 5.7% in the past 24 hours.
Three former members of the Pepecoin (PEPE) project have allegedly stolen $16 million from the project's multisig wallet, causing a 15% drop in the price of PEPE. The theft occurred after the multisig wallet's required number of signatures was changed from 5/8 to 2/8. The anonymous founding member of Pepecoin claimed that the stolen funds were sent to exchanges to be sold, and that the three team members have since abandoned the project. The remaining member assured the community that the remaining funds are safe and will be transferred to a new wallet. They also stated that the former members had been difficult to work with and had hindered the project's progress. The community's reaction to the announcement was mixed, with some supportive and others skeptical. As of now, the price of PEPE has increased by 5.7% in the last 24 hours, reaching $0.000000895278 and a market cap of $382.7 million according to CoinGecko.
Published At
8/26/2023 5:31:09 AM
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