PEPE Token Heist: Former Team Members Swipe $15 Million in Tokens, Lead Developer Vows to Rebuild and Decentralize

Approximately 16 trillion PEPE tokens worthy $15 cardinal were illicitly transferred to crypto exchanges and sold, according to an announcement from the meme coin’s anonymous pb developer. The theft was allegedly orchestrated by 3 erstwhile squad members who accessed the token’s multi-signature wallet earlier removing themselves from the project. Despite this setback, the pb developer has promised to proceed moving the task guardant and to afloat decentralize it.

Anonymous Pepe Dev Reveals $15 Million successful PEPE Tokens Stolen by Ex-Team Members

Three erstwhile PEPE squad members allegedly took astir 16 trillion PEPE tokens worthy $15 cardinal from the meme coin’s multi-sig wallet connected August 24, 2023. The meme coin tokens were past quickly transferred to cryptocurrency exchanges Okx, Binance, Kucoin, and Bybit and sold, according to a statement from PEPE’s pb developer.

The purported thieves reduced the required signer number for transactions from the wallet to conscionable 2 retired of 8 earlier draining the code of astir 60% of its holdings. After the funds were obtained, they deleted their societal media accounts and disassociated themselves from the PEPE project, the pb dev’s connection claims.

Despite this large setback, PEPE’s pb developer is promising to proceed processing the meme coin and says the remaining 10 trillion PEPE tokens successful the compromised multi-sig wallet are present secure. The developer plans to transportation those tokens to a caller wallet and yet pain each of them to afloat decentralize the meme token project.

“I americium shocked astatine what took spot and would similar to apologize for each of the fearfulness and uncertainty and immoderate losses the actions of these atrocious actors person caused members of our community,” the anonymous pb developer wrote successful the connection posted connected societal media connected August 25.

The developer said they are successful negotiations to acquisition PEPE-related web domains and usernames utilizing immoderate of the remaining tokens earlier burning the rest. “Once each is acceptable and complete, I would similar PEPE to beryllium near successful a presumption wherever it tin basal and thrive arsenic beardown arsenic ever successful a genuinely decentralized and anti-fragile state,” the PEPE developer wrote.

What bash you deliberation astir the PEPE meme token project’s existent issues? Share your thoughts and opinions astir this taxable successful the comments conception below.