Pepe Makes Important Clarification on Strange PEPE Token Transactions

The official $PEPE X account has issued an important clarification as regards recent transactions from the $PEPE deployer.

$PEPE states it has been aware of recent action in the $PEPE deployer; however, the particular transactions were not provided in the tweet.

$PEPE distances itself from this strange activity, stating that these transactions, as well as any future transactions from the deployer wallet, have no association with the remaining team of $PEPE.

In addition, $PEPE says it is not associated with any other projects or tokens. The said transactions might have been made by the nefarious ex-team members who previously stole from the $PEPE treasury, the $PEPE team stated.

It is worth recalling the incident in August 2023, when some rogue $PEPE developers made a series of unexpected transactions from the project's multi-sig wallet, effectively stealing millions of dollars in $PEPE.

A series of unusual transactions occurred from the $PEPE multi-sig CEX wallet, which houses a significant portion of the coin's total supply, resulting in the transfer of 16 trillion $PEPE tokens, worth approximately $15.7 million at the time, to various crypto exchanges such as OKX, Binance and Bybit.

Following that, the $PEPE team clarified the incident and announced the transfer of the remaining 10 trillion tokens to a new wallet, to be carefully stored until they are used or burned.

Months later, $PEPE burned 6.9 trillion $PEPE out of the 10 trillion tokens that remained following the theft incident. $PEPE also stated that it had brought on a new team of advisors to help it move on while it looked into potential uses for the remaining 3.79 trillion tokens ascribed to the previous team's CEX multi-sig wallet for strategic partnerships and marketing.

At the time of writing, the frog-themed meme coin Pepe ($PEPE) was up 0.95% in the last 24 hours to $0.000001083.