Founder of Not Larva Labs Reveals Alleged Founder of PEPE Meme Coin
Jeremy Cahen, the founder of Not Larva Labs, has identified Zachary Testa as the alleged founder of the PEPE meme coin. This revelation has caused a 19% drop in the coin’s price within the last 24 hours.
Key Points:
– Testa, also known as @degenharambe and @LordKekLol on Telegram, infamously purchased an $865k purple Lamborghini with his earnings from PEPE, without giving any compensation to the original creator of the Pepe the Frog meme, Matt Furie.
– The PEPE project’s team recently moved 16 trillion tokens to various crypto exchanges, leading to uncertainty about the coin’s future and causing both early buyers and long-term holders to sell.
– As a result, the value of PEPE dropped by double-digit percentages in just one day, reaching $0.000000875.
– The movement of tokens from a multi-sig wallet linked to the PEPE team raised suspicions, as the address was changed to require only two approvals instead of five before large transfers occurred.
– Testa’s connections with major cryptocurrency exchanges, including Binance, have allegedly been confirmed, further establishing his involvement in the PEPE project.
Hot Take:
The identification of Zachary Testa as the alleged founder of the PEPE meme coin has caused significant turmoil within the crypto community. The controversy surrounding his handling of earnings and the movement of tokens has led to a sharp decline in the coin’s value. This incident serves as a reminder of the importance of transparency and trustworthiness in the cryptocurrency industry.
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