Former Team Members Make Off with $15 Million in PEPE Tokens, Lead Developer Pledges Rebuilding and Decentralization
Around $15 million worth of PEPE tokens, totaling approximately 16 trillion tokens, were reportedly stolen and sold by three former team members of the meme coin.
The illicit transfer and sale occurred after the ex-team members gained access to the token’s multi-signature wallet. And reduced the required signer count for transactions. Despite this setback, PEPE’s anonymous lead developer has committed to moving the project forward and achieving full decentralization. The remaining compromised tokens, about 10 trillion, will be secured in a new wallet and eventually burned. The developer also intends to purchase PEPE-related web domains and usernames before pursuing the token’s decentralization goal.
Clever Robot News Desk 29th August 2023
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