2023-08-27 05:34:35
The price of the frog-themed Pepe memecoin plunged nearly 15% after changes to the multisig wallet and token transfers suggested the lead developers may back out of the project. The allegations, as well as the negative price action, stemmed from $16 million worth of Pepe tokens being sent from the developers’ multisig wallet to various crypto exchanges on August 24. According to data from the Safe Global blockchain escrow application, the wallet address transferred 16 billion Pepe tokens. This is approximately 3.8% of the total supply. That’s how many PEPE coins came to three crypto exchanges and one unverified address. The breakdown of the transactions is as follows: $8.3 million was sent to OKX. $6.6 million sent to Binance. Bybit received roughly $440,000. An unidentified wallet received $400,000. After transferring 16 billion Pepe tokens to exchanges, the developers made a special change to the team’s multisig wallet. This portfolio still contained $10 million worth of Pepe at the time of publication. Data from Etherscan shows that the wallet now only needs two out of eight signatures to authorize transfers. Previously, five out of eight were needed to sign off on transactions. In addition, the transfer of funds was the first time that Pepe tokens were sent from the project’s multisig wallet to exchanges. So the question arose in several people that if the developers reduce their PEPE stocks by several million dollars, then they don’t trust the success of the project either? $PEPE Dev Wallet Sends $15M to Binance, OKX, and Bybit. Only hours ago the PEPE Multi-Sig wallet undergoes unusual changes and transactions. Many fear a potential “rug pull.” The PEPE multi-sig wallet sent over $15M worth of PEPE to three major centralized exchanges and one… pic.twitter.com/xgGjhROILE — MANDO CT (@XMaximist) August 25, 2023
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#suspected #ground #pulled #Pepes #feet