PEPE's $16M Nightmare: Ex-Team Under Fire - page 2.

eaLiTy

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Quote from: sesterceshop on August 29, 2023, 01:45:10 AM

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Three former members of the PEPE community are alleged to have stolen $16 million worth of PEPE tokens from the project's multisig wallet and transferred control to the only remaining member.

It is astonishing to see that people are willing to risk money even when their developers are anonymous and these faceless people were able to create the hype with the help of social media and it is not surprising that they are leaving with money and they did not even have the patience to wait for the next rally as they are not even confident that it would last that long Grin

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Best-mary

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I read this news few days ago but what I'm not clear about is when this issue came to life, Pepe had a big rise. When money is stolen shouldn't cause a fall? Rather it rose like nothing was touched

yhiaali3

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Quote from: sesterceshop on August 29, 2023, 01:45:10 AM

This is what happens when you trust anonymous frogs with your money.

Yes, this is what always happens, not only with frogs but with every shitcoin, they pump the coin so much that investors salivate, then they pull the rug out and leave them with their sorrows.

This will not be the first or last incident and these people never learn their lessons.

Yudhisthir

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Quote from: sesterceshop on August 29, 2023, 01:45:10 AM

Three former members of the PEPE community are alleged to have stolen $16 million worth of PEPE tokens from the project's multisig wallet and transferred control to the only remaining member.

The anonymous founding member clarified the situation, explaining that the ex-team members stole the funds and abandoned the project, leaving control in the hands of the remaining member. The stolen funds were sent to exchanges for selling, while the remaining member and the remaining 10 trillion PEPE tokens are secured.

The remaining member is now focused on moving forward in the best interest of the PEPE community. This is what happens when you trust anonymous frogs with your money.

Source: https://cointelegraph.com/news/rogue-pepecoin-team-members-blamed-for-pepe-multsig-withdrawal

The news has been confirmed by the remaining team member so there's no doubt it did occur..
This news though unfortunate for PEPE holders as price came falling down is favorable for someone like me who feels like missed out of the PEPE jump. This is a good time to buy in Pepe if you have the money. I being invested heavily on other projects already, took out some of my spare coins and bought a good amount of PEPE for the first time, just today. Pepe would certainly recover from the current situation.

irsykes

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Something that is unexpected for the Pepe team, if one of them runs away with the Pepe tokens, it could be a big loss of Pepe tokens. although not now what happens could be a good time to sell. Rumors that SBF helped could possibly be because SBF still doesn't like CZ with various tricks to destroy CZ, but it's not easy.

$crypto$

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Quote from: abel1337 on August 30, 2023, 02:35:04 PM

Quote from: $crypto$ on August 30, 2023, 02:04:02 PM

Have you heard this news before one of the founders escaped by stealing a lot of PEPE tokens. Damn this will be a lot of drama.

There is another rumor that about PEPE that the founder of FTX-SBF helped set up PEPE.

Source
https://twitter.com/WhaleChart/status/1695176511320371518
https://twitter.com/Nebraskangooner/status/1694849312335749609

More and more attributed. Grin

There's a lot of FUD about PEPE but I'm amazed that the price didn't really go down significantly. Maybe the founders haven't really sold the stolen funds.

If this news are true, I'm really expecting it to be honest since there's a lot of red flags about pepe even if it's a meme coin, sooner or later they will do an exit scam knowing that all of the project team members and the developers are anonymous. This is why I don't really like memecoins/shitcoin since it there's a lot of way that developers can leave the project or abandon it.

It's still in the rumor stage so it's not necessarily that they're doing it, it's just that there are indications as said in the media news that one of the founders left and fled with the tokens, maybe they sold in stages.

Maybe? But they have a strong community as fans of this meme coin can't get out anytime soon but anything can happen if one of them has a dispute.
This is a very risky meme coin we consider this meme coin as gambling, but I don't buy this token.

Wexnident

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Quote from: sesterceshop on August 29, 2023, 01:45:10 AM

Three former members of the PEPE community are alleged to have stolen $16 million worth of PEPE tokens from the project's multisig wallet and transferred control to the only remaining member.

The anonymous founding member clarified the situation, explaining that the ex-team members stole the funds and abandoned the project, leaving control in the hands of the remaining member. The stolen funds were sent to exchanges for selling, while the remaining member and the remaining 10 trillion PEPE tokens are secured.

The remaining member is now focused on moving forward in the best interest of the PEPE community. This is what happens when you trust anonymous frogs with your money.

Source: https://cointelegraph.com/news/rogue-pepecoin-team-members-blamed-for-pepe-multsig-withdrawal

There are still people who hold/buy it till today? I honestly thought people would've realized it was done and over after that initial pump from release (which was basically manipulation imo). It was an absolute shtfest when it was released and while I think people could've profited off of it early on if they were lucky, anything past that would've been nothing but losses. Even a minor profit would be considered a loss considering the time spent imo, I'd much rather move on to other coins isntead.

milewilda

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Quote from: sesterceshop on August 29, 2023, 01:45:10 AM

Three former members of the PEPE community are alleged to have stolen $16 million worth of PEPE tokens from the project's multisig wallet and transferred control to the only remaining member.

The anonymous founding member clarified the situation, explaining that the ex-team members stole the funds and abandoned the project, leaving control in the hands of the remaining member. The stolen funds were sent to exchanges for selling, while the remaining member and the remaining 10 trillion PEPE tokens are secured.

The remaining member is now focused on moving forward in the best interest of the PEPE community. This is what happens when you trust anonymous frogs with your money.

Source: https://cointelegraph.com/news/rogue-pepecoin-team-members-blamed-for-pepe-multsig-withdrawal

Not shocking with these types or kinds of sentiments or events that could happen in a snap which we know that if a human being is being that blinded with those $$$$ then for sure they could easily messed up a certain project would really be just simply jumping offboard and leave everything behind for the sake of money. Its never been something new on which it would really be not that shocking anymore if there would be some
sudden hacks and exploits or unauthorize on selling out those coins.Checking out the price of $PEPE on which the price hadnt really dipped down so much and considering that $16M isnt a small thing then
good to see that it didnt dropped down into the floor. It turns out that those greedy shitty members cant really have a good hold into themselves and been burned down by their greed.
Well, thats how human being which we do have that greediness inside. They do just waste off that opportunity on having more if $PEPE demand would becoming even more bigger but well
everything is something that cant be known.

DeathAngel

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I fell for it & bought near to the PEPE top. I should know better, I’ve been in crypto for many years but I jumped n the hype train, thinking it would keep pumping. It wasn’t much in relation to my net worth but enough to be annoyed about. Let this be a lesson to dreamy noobs……bitcoin only, OK maybe some ETH too.

Dave1

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Not sure if this is true or not. However, I can also say that when everyone is making money amongst themselves, sooner or later there will be one or two members of the team that will do something bad, not saying that they are going to steal something, but perhaps it's human nature to be greedy when there is a lot of money involved just like in this project. Wherein it was go as it was the first BRC20 token and so everyone wanted to get on-board pushes the price and then developers seeing that huge money.

livingfree

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This is one reason why these meme coins are needed to be avoided. Because these are projects likely made for test if it will click in the market and people will invest on it.

And once it is unsuccessful, they'll just abandon it and once it becomes successful, it is also unavoidable that they're going to have their own pockets filled first.

Regardless of the result, it's always the investors are going to be in trouble with these dramas made by these founders, co-founders.

abel1337

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Quote from: $crypto$ on August 30, 2023, 02:04:02 PM

Have you heard this news before one of the founders escaped by stealing a lot of PEPE tokens. Damn this will be a lot of drama.

There is another rumor that about PEPE that the founder of FTX-SBF helped set up PEPE.

Source
https://twitter.com/WhaleChart/status/1695176511320371518
https://twitter.com/Nebraskangooner/status/1694849312335749609

More and more attributed. Grin

There's a lot of FUD about PEPE but I'm amazed that the price didn't really go down significantly. Maybe the founders haven't really sold the stolen funds.

If this news are true, I'm really expecting it to be honest since there's a lot of red flags about pepe even if it's a meme coin, sooner or later they will do an exit scam knowing that all of the project team members and the developers are anonymous. This is why I don't really like memecoins/shitcoin since it there's a lot of way that developers can leave the project or abandon it.

Wakate

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The way the pepe coin really tend was amazed but I knew something would eventually happen that could bring the liquidity of the market. The hype of pepe was really great that it was the third biggest Crypto project then after Ethereum. I was really amazed and how the team were able to push the project to the moon. The hype was really big making it to trend slot. I just hope that this is not going to make investors to lose hope in the project that could lead to total downward trend. I hope to see the project up again if the team can retain the past glory.

$crypto$

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Have you heard this news before one of the founders escaped by stealing a lot of PEPE tokens. Damn this will be a lot of drama.

There is another rumor that about PEPE that the founder of FTX-SBF helped set up PEPE.

Source
https://twitter.com/WhaleChart/status/1695176511320371518
https://twitter.com/Nebraskangooner/status/1694849312335749609

More and more attributed. Grin

o48o

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Quote from: Supianto on August 30, 2023, 02:28:09 AM

Finally people will see that PEPE is a shitcoin. I mean, a lot of people knew that, but some were trying to convince me that PEPE is legit.

I would argue that everyone shilling it knew it was a shitcoin. It's an unspoken agreement that people don't speak ill about the coins/tokens they hold. They just keep shilling them, as you can make a ton of money with absolute useless garbage, because when it will rise from nothing (microcap to lowcap), you have already made more than enough money for that year depending what you put in originally.

This is why these stories get so much press time. Everyone wants to identify with that guy who made $200 to $2M. It makes it seem possible even though it will happen for handful of people.

benalexis12

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Quote from: Supianto on August 30, 2023, 02:28:09 AM

Finally people will see that PEPE is a shitcoin. I mean, a lot of people knew that, but some were trying to convince me that PEPE is legit.

I am not depending on Pepe, I know a lot of people who think Pepe is just one piece of sh*t. But in reality, if Pepe is shitcoin, why is this shit you called listed on different top exchanges in the crypto industry? Problems are always present in each cryptocurrency in this field of business. Many in the community have looked down on Pepe ever since it was started, but what happened was that it was all of a sudden listed as one of the top coins in cryptocurrency. And those who called Pepe a shitcoin were embarrassed. And if this happened now, I think this is just normal for the coin, and yet in the long run, we will see it survive the chance we didn't expect to happen.

Godday

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From the start I warned you not to try putting your money in meme coins. Think about what capabilities and offers they can offer that would make you want to save and give them your money? Community? That's the nonsense of meme projects that can't offer any other benefits from their projects other than just a community that claims to be strong so the price will continue to rise.

cryptoaddictchie

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Quote from: Supianto on August 30, 2023, 02:28:09 AM

Finally people will see that PEPE is a shitcoin. I mean, a lot of people knew that, but some were trying to convince me that PEPE is legit.

It is a shitcoin and regardless whether its legit or not everyone must have a critical thinking on taking profits when you encounter something like this. We all knew that anonymous projects are tend to rug and thus type isnt different to those since Pepe become a mainstream memecoin. Imagine old members of a team stole money and give up their friendship over what $16m maybe it is worth to change heart but a very unprofessional action on their part.

Supianto

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Finally people will see that PEPE is a shitcoin. I mean, a lot of people knew that, but some were trying to convince me that PEPE is legit.

martinex

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Yes. one of the other reasons for the increase in the Pepe coin price is that its inclusion on well-known stock exchanges has increased its legitimacy and opened up opportunities for a wider range of investors.

Just the name meme coin and it is synonymous with having fun and this is proof of why you should be more careful with FOMO on meme coins even though some people take it seriously when they buy it and hope that there will be significant changes after hodl for a while.

Topic: PEPE's $16M Nightmare: Ex-Team Under Fire - page 2. (Read 290 times)