Regarding recent transactions from the PEPE deployer, an important explanation has been released by the official PEPE X account.
Although the specific transactions were not mentioned in the tweet, PEPE claims to be aware of recent activity in the PEPE deployer.
PEPE dissociates itself from this odd behaviour, saying that there is no connection between these transactions and any future transactions made by the deployer wallet and the rest of the PEPE team.
https://x.com/pepecoineth/status/1750892041419272415?s=20
PEPE also states that it has no affiliation with any other initiatives or tokens. The PEPE team claimed that the aforementioned transactions may have been carried out by the same former team members who had previously embezzled money from the PEPE treasury.
It’s important to keep in mind the August 2023 event, in which a few rogue PEPE engineers successfully stole millions of PEPE by making a number of unexpected transactions from the project’s multi-sig wallet.
A considerable amount of the coin’s total supply is stored in the PEPE multi-sig CEX wallet. Through a series of odd transactions, 16 trillion PEPE tokens—worth roughly $15.7 million at the time—were transferred to different cryptocurrency exchanges, including OKX, Binance, and Bybit.
Subsequently, the PEPE team provided clarification about the issue and declared the transfer of the remaining 10 trillion tokens to a new wallet, which would be kept secure until they are either burnt or utilised.
Sixty-nine trillion PEPE were destroyed by PEPE a few months after the theft episode, leaving ten trillion tokens. In addition, PEPE said that it has enlisted a fresh group of advisers to assist it in moving forward, as it investigated possible applications for the 3.79 trillion tokens that were still associated with the former team’s CEX multi-sig wallet, including marketing and strategic alliances.
As of this writing, Pepe (PEPE), a meme coin with a frog motif, was up 0.95% to $0.000001083.
