Ethereum

Pepe

April

<div class="playHtListenArea" style="display:none;margin: 0;">
		<div id="playht-audioplayer-element" data-play-article="https://crypto.ro/en/?p=21087" data-play-audio="https://media.play.ht/full_-NTs4eFfXZ-Wuczlkj3c.mp3?generation=1682420718073722&alt=media">
		</div>
	</div>
	<p>Blockchain analytics platform Lookonchain, known for monitoring and analyzing on-chain activities in the world of cryptocurrencies, recently unveiled a fascinating and intricate cryptocurrency heist involving five Ethereum addresses related to <strong>pepecexwallet.eth.</strong></p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">1/ We found that 5 addresses related to pepecexwallet.eth bought 8.87T <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$PEPE</a> at a low price, and the cost was ~0.19 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$ETH</a> ($385).</p>
<p>Then sold 7.76T <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$PEPE</a> for $1.23M on <a href="https://twitter.com/hashtag/DEX?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#DEX</a>, made nearly $1.23M (3,200x)! <a href="https://t.co/hIvTJX6UTK" rel="nofollow" target="_blank">pic.twitter.com/hIvTJX6UTK</a></p>
<p>&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1650441928402694144?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">April 24, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 id="what-is-pepe">What is $PEPE?</h2>
<p><a href="https://crypto.ro/en/cryptocurrencies/pepe/">Pepe token ($PEPE)</a> is a Pepe-the-Frog-themed memecoin that has gained significant attention in the crypto community. Branded as &#8220;the most memeable memecoin in existence&#8221; by its creators, the token has experienced rapid surges in value.</p>
<figure id="attachment_21089" aria-describedby="caption-attachment-21089" style="width: 1200px" class="wp-caption alignnone"><img decoding="async" class="wp-image-21089 size-full" src="https://crypto.ro/en/wp-content/uploads/2023/04/Pepe-to-USD-Chart.jpg" alt="Pepe to USD Chart" width="1200" height="517" srcset="https://crypto.ro/en/wp-content/uploads/2023/04/Pepe-to-USD-Chart.jpg 1200w, https://crypto.ro/en/wp-content/uploads/2023/04/Pepe-to-USD-Chart-300x129.jpg 300w, https://crypto.ro/en/wp-content/uploads/2023/04/Pepe-to-USD-Chart-1024x441.jpg 1024w, https://crypto.ro/en/wp-content/uploads/2023/04/Pepe-to-USD-Chart-768x331.jpg 768w, https://crypto.ro/en/wp-content/uploads/2023/04/Pepe-to-USD-Chart-750x323.jpg 750w, https://crypto.ro/en/wp-content/uploads/2023/04/Pepe-to-USD-Chart-1140x491.jpg 1140w" sizes="(max-width: 1200px) 100vw, 1200px" title="$1.23 million profit from trading $PEPE tokens exposed 1"><figcaption id="caption-attachment-21089" class="wp-caption-text">Pepe to USD Chart | CoinMarketCap</figcaption></figure>
<p>In an attempt to distinguish itself from other <a href="https://crypto.ro/en/education/best-crypto-to-buy-now/#what-are-meme-crypto-coins">popular memecoins</a>, the PEPE token project declared &#8220;the dog days are over,&#8221; referring to rival dog-themed cryptocurrencies.</p>
<p>Despite its seemingly light-hearted nature, the token has been involved in several controversial events, including the recent $1.23 million heist investigated by Lookonchain.</p>
<h1 id="5-addresses-unravel-the-1-23-million-scheme">5 Addresses unravel the $1.23 million scheme</h1>
<p>These addresses were able to generate a staggering $1.23 million in profit from buying low and selling high, with some trades reaching a 3,200x return on investment.</p>
<p>5 addresses were able to generate a staggering $1.23 million in profit from buying low and selling high, with some trades reaching a 3,200x return on investment.</p>
<figure id="attachment_21090" aria-describedby="caption-attachment-21090" style="width: 1295px" class="wp-caption alignnone"><img decoding="async" class="wp-image-21090 size-full" src="https://crypto.ro/en/wp-content/uploads/2023/04/5-addresses-related-to-pepecexwallet.eth_.jpg" alt="5 addresses related to" width="1295" height="857" srcset="https://crypto.ro/en/wp-content/uploads/2023/04/5-addresses-related-to-pepecexwallet.eth_.jpg 1200w, https://crypto.ro/en/wp-content/uploads/2023/04/5-addresses-related-to-pepecexwallet.eth_-300x199.jpg 300w, https://crypto.ro/en/wp-content/uploads/2023/04/5-addresses-related-to-pepecexwallet.eth_-1024x678.jpg 1024w, https://crypto.ro/en/wp-content/uploads/2023/04/5-addresses-related-to-pepecexwallet.eth_-768x508.jpg 768w, https://crypto.ro/en/wp-content/uploads/2023/04/5-addresses-related-to-pepecexwallet.eth_-750x496.jpg 750w, https://crypto.ro/en/wp-content/uploads/2023/04/5-addresses-related-to-pepecexwallet.eth_-1140x754.jpg 1140w" sizes="(max-width: 1295px) 100vw, 1295px" title="$1.23 million profit from trading $PEPE tokens exposed 2"><figcaption id="caption-attachment-21090" class="wp-caption-text">5 addresses related to pepecexwallet.eth | Lookonchain</figcaption></figure>
<p>The first address in the Lookonchain investigation, dubbed &#8220;0xAd10,&#8221; started by purchasing 2.44 trillion $PEPE tokens for a mere 0.0195 $ETH ($39.3). This address then transferred the tokens to another wallet, &#8220;0x9807.&#8221;</p>
<p>Meanwhile, wallet &#8220;0x9807&#8221; bought an additional 0.06 trillion $PEPE tokens for 0.11 $WETH ($230.84) before transferring a total of 2.5 trillion $PEPE tokens to wallet &#8220;0x7607.&#8221;</p>
<p>Next, wallet &#8220;0x7607&#8221; acquired 1.77 trillion $PEPE tokens for just 0.0175 $ETH ($35.24) before selling all 4.26 trillion $PEPE tokens for an astonishing $726,218. In another transaction, wallet &#8220;0xAd10&#8221; sent the remaining 0.03 $ETH to wallet &#8220;0xde85,&#8221; which then bought 2.29 trillion $PEPE tokens for 0.022 $ETH ($44.26). This wallet then sold 1.84 trillion $PEPE tokens for $238,480.</p>
<p>The investigation also revealed that wallet &#8220;0x9807&#8221; transferred the remaining 0.18 $ETH to wallet &#8220;0x1984.&#8221; This wallet bought 2.31 trillion $PEPE tokens for 0.0175 $ETH ($35.25) and subsequently sold 1.66 trillion $PEPE tokens for $266,991.</p>
<p>Finally, the remaining 0.65 trillion $PEPE tokens were transferred to pepecexwallet.eth&#8217;s Huobi deposit address.</p>
<p>Lookonchain has reason to believe that these five addresses are actually internal addresses of the Pepe project. The data on the Ethereum blockchain suggests that they made impressive profits from trading $PEPE.</p>
<p>This new investigation follows another related crypto news story, in which <a href="https://crypto.ro/en/news/crypto-investor-turns-250-into-1-02-million-with-pepe-tokens/">a crypto investor swapped 0.125 ETH (worth $250 at the time) for 5.9 trillion PEPE tokens</a>, now valued at $1.02 million. However, the investor&#8217;s ability to cash in on this incredible profit is hindered by liquidity issues surrounding the token, as market analyst Grzegorz Drozdz explained that it would take 46,200 years to liquidate the investor&#8217;s PEPE tokens, assuming non-declining demand.</p>
<p class="my-0.5">The news of these lucrative trades is set to raise the profile of Pepe token and attract investors who will want a piece of the high earnings. Ultimately, investors are urged to approach PEPE with extreme caution.</p>

$1.23 million profit from trading $PEPE tokens exposed

Table of Contents

crypto.ro global

Other articles published on Apr 25, 2023

SEC vs. Coinbase: Exchange Seeks Clarity Regarding Crypto Regulations

Batch Send Your Crypto Assets with Mass Transfer on the FTM Network

Multi Sender: How to Send Tokens to Multiple Addresses

Venom Blockchain Enters Next Phase with Launch of Public Testnet

IDEX Rallies Over 70% After Activating Layer 3 Capabilities

Stellar Leads the Way in Billion-Dollar Market with First U.S. Mutual Fund on Public Blockchain

Join our free newsletter for daily crypto updates!