The PEPE

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 <p class="is-style-lead">The PEPE token team has stepped forward to shed light on a series of bizarre wallet transactions that had market watchers buzzing with speculation.</p>
 <p>In a statement communicated via X on Jan. 26, the meme coin’s current <a rel="noopener noreferrer nofollow" title="leadership" href="https://thebittimes.com/tag/leadership.html">leadership</a> separated itself from these activities, suggesting involvement by “nefarious” former team <a rel="noopener noreferrer nofollow" title="members" href="https://thebittimes.com/tag/members.html">members</a>.</p>
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    <p lang="en" dir="ltr">It has come to our attention that there has been a recent action in the $PEPE deployer. These transactions and any future transactions from the deployer <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a> have no association to the remaining team of $PEPE and Pepe is not associated with any other projects or tokens. These… pic.twitter.com/4qjLNqkYgr</p>— Pepe (@pepecoineth) January 26, 2024
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 <p>This response from PEPE springs from a need to address the swelling uncertainties following notable transactions in the meme coin’s deployer <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a>. Market participants were left in the dark about the specifics of these transactions, but the team’s swift denial of any current affiliation points to a complex backstory involving erstwhile associates.</p>
 <p>The team also clarified that neither these activities nor any future transactions of a similar nature are linked to the current team.&nbsp;</p>
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 <p>Suspicions cast on former team <a rel="noopener noreferrer nofollow" title="members" href="https://thebittimes.com/tag/members.html">members</a> hark back to an incident in August 2023, where rogue developers misdirected funds from the project’s multi-signature <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a>, stealing 16 trillion PEPE coins, a loot valued at nearly $16 million at the time, funneled into several crypto exchanges.</p>
 <p>The spotlight has turned towards individuals like Eric Wallace—known under various monikers—and the Frick brothers, Brandon and Chris, who were allegedly behind the heist.</p>
 <p>In the wake of the theft, PEPE’s management took decisive action. They re-secured the remaining 10 trillion tokens, engaging in a calculated burn of 6.9 trillion tokens from this cache, and welcomed onboard new advisors tasked with reinforcing the project’s credibility.</p>
 <p>Walking on the tightrope of regaining investor confidence and charting a course forward after the scandal, PEPE is navigating through trying times, taking strides to utilize the remaining 3.79 trillion tokens judiciously for forging strategic ties and amplifying its market position.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/pepe-leadership-blames-shady-wallet-activity-on-nefarious-ex-team-members-tbt77978.html">https://thebittimes.com/pepe-leadership-blames-shady-wallet-activity-on-nefarious-ex-team-members-tbt77978.html</a></p>

PEPE leadership blames shady wallet activity on ‘nefarious ex-team members’

TheBitTimes

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