Stolen $15 Million in Crypto: Former Team Members Accused of PEPE Meme Coin Theft

Stolen $15 million in crypto from multi-signature wallet of PEPE meme coin: former team members accused of theft

– 16 trillion PEPE tokens, worth about $15 million, were transferred from the meme coin founders’ multi-signature wallet to centralized exchanges
– The founders alleged that 3 former members of the project stole the tokens by accessing the wallet without their knowledge
– The thieves left a message stating that they had updated the multi-sig, implying that they now had control
– The remaining tokens were transferred to a different wallet after the theft
– The founders claimed that the project has been cleansed of bad actors and will burn the remaining tokens

A story that hides some rot

– The explanation of the theft seems suspicious and raises questions about the team behind the PEPE memecoin
– If the former members had detached themselves from the project, why did the remaining founder not protect the tokens?
– The fact that the thieves only took 60% of the tokens suggests that it may not have been a true theft, but rather a planned liquidation of their holdings
– The multi-signature wallet story may be an attempt to prevent the price of PEPE from plummeting further

Price analysis of the memecoin PEPE

– The price of PEPE is currently facing a crucial support level, which will determine its future direction
– Low market volumes and the alleged theft suggest a continued downward trend for PEPE’s price
– Unless the remaining tokens are burned and there is genuine interest in running the project, bears are likely to take control
– PEPE has been below key moving averages for a while, indicating negative momentum
– The token’s capitalization could diminish unless there is strong community support

Hot Take

The alleged theft of $15 million worth of PEPE tokens raises suspicions about the team behind the memecoin. The explanation provided seems questionable, and it’s possible that the founders planned to liquidate their holdings before the price dropped further. The price analysis suggests a continued downward trend for PEPE, unless there are significant changes in the project. It remains to be seen whether the community support can prevent further decline.