• The team behind Pepe (PEPE), the memecoin that’s taken crypto markets by storm this year, has issued a statement regarding a large transfer of coins that caught its community’s attention.
• According to the statement, all founding members except one anonymous entity have sold their stake and abandoned the project, leading to a price correction.
• The lone team member clarifies that they’re planning on seeing the project through, and has begun reaching out to potential new team members to carry Pepe into the next phase.
The team behind Pepe (PEPE), a memecoin that has taken crypto markets by storm this year, has released a statement regarding a large transfer of coins that caused an uproar in its community. All founding members except for one anonymous entity have sold their stake and left the project, resulting in a significant price correction. The remaining individual is committed to seeing the project through and is currently looking for new team members to help carry Pepe forward.
The story began when a Pepe community leader posted on social media platform X about some personnel turning into “bad actors” who were in conflict with other team members. It was revealed that these bad actors had taken control of CEX- (centralized exchange) wallet tokens which were never meant to be sold on the market or used for personal gain.
The post included an apology from whoever was in charge for causing fear and uncertainty among their followers as well as any losses incurred due to these events. They also assured everyone that they had full control over the Twitter account and 10 trillion tokens in the multi-signature wallet which could not be accessed by ex-team members.
It was later revealed that all of these tokens had been sent to crypto exchanges OKX and Binance where they were eventually sold off by these bad actors.
In order to move past this incident, the remaining individual is looking for potential new team members who will be able guide things forward with PEPE’s best interest at heart. At time of writing, PEPE is trading at $0.000000868, down by about 30% in the last week.