The newly popular memecoin Pepe (PEPE) tanked 13% in value on Thursday after the crypto community noticed strange alterations to the multi-signature wallet used for enhancing the token’s adoption.
As noted by @Crypto_Noddy on X, the multsig wallet changed its threshold for token transfers from 5 of 8 to just 2 of 8 wallet signatures – far less than what is expected for storing reserves for popular coins.
The multisig is meant to reserve a portion of Pepe’s supply to provide liquidity for future exchange listing, liquidity pools, and bridges.
Onchain sleuth ZachXBT, backed up the claim, noting that the wallet has now sent $15.6 million PEPE tokens to a mix of exchanges including Binance, OKX, and Bybit. The amount left in the multisig totals 3.8% of the token’s supply ($10.4 million).
TLDR: They transferred out $15.6M worth of PEPE from the multisig to an EOA address. That address started depositing the funds to exchanges.
Then they changed the number of signers on the multisi
We współpracy z: https://cryptopotato.com/pepe-plummets-13-following-mysterious-changes-to-multisig-wallet/
