The active co-founder of the Pepe token revealed how the other three co-founders unethically drained 16 million Pepe tokens from the multi-signature crypto wallet.
Pepe token is a popular frog theme-based meme token, which grabbed huge popularity in the crypto sector in April of this year. This token was founded by 4 people. Just a day ago, we reported that Pepe token crashed nearly 18% within 24 hours, following the news of $15 million worth of Pepe token transactions to some big crypto exchanges without any announcement.
On 26 Aug 2023, the Pepe token co-founder shared the whole back-end dark activity behind the Pepe token project.
According to the Pepe token co-founder, this meme token was founded by four co-founders but the other three left the project just after 7 days of the token launch.
Active Pepe token co-founder said that he was not able to use the reserved Pepe tokens, held in the multi-signature wallet. As per set ryoe, ¾ co-founders were able to control the funds via sign. In short, the whole situation created a big conflict & drama between all co-founders.
Reportedly, three ex-team members (who left the project within 7 days) came to join on 25 August and then unethically accessed the wallet to withdraw funds to the top three centralized Crypto exchanges and later handed over control of the wallet to the active co-founder.
“I am shocked at what took place and would like to apologize for all of the fear and uncertainty and any losses the actions of these bad actors have caused members of our community.” the active co-founder said.
Now the rest of the Pepe token has been transferred to a new wallet address & this active co-founder only controls the fund.
Furthermore, the Pepe token co-founder confirmed that he will share all the information about Pepe tokens via X ( formerly Twitter) only because the Telegram account was hacked & the team will create a new one to update at all the crypto analytic platforms.
Following this latest news, the trade price of Pepe token started to grab some green candles, as we can see in the trade price graph.
Read also: Ethereum co-founder says Cardano is going to become the biggest crypto
Pepe token co-founder reveals that other co-founders stole 16M Pepe tokens
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