2 years ago
Millions of dollars worthy of the PEPE meme coin flooded crypto exchanges Thursday, spooking investors who drove its terms down and drafting attraction to spooky enactment successful the project's multisig, among the single-largest holders of the gag cryptocurrency.
Over 16 trillion tokens flowed retired of the PEPE multisig wallet midday Thursday connected its mode to addresses associated with Binance, OXK, and Bybit. That enactment came soon aft on-chain sleuths noted troubling changes to the oversight of however that vault-like wallet handles transaction approvals.
Instead of requiring 5 of 8 wallets to motion disconnected connected transactions, it had changed to lone 2 retired of eight.
The highly antithetic enactment represented the archetypal clip the project's all-important multisig – keeper of overmuch of the token's proviso – has ever sent retired the meme coin.
PEPE fell astir 12% arsenic the actions came to light.
Edited by Nick Baker.
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