The team behind Pepe reportedly changed the requirements of their multi-signature wallet, which holds the funds of the founders and developers. They changed the number of signatures required from eight to just two. This raised suspicions that the team might be secretly selling off their coins behind the scenes. As a result, the price of Pepe dropped significantly.
However, one of the remaining founders claimed that three former members who had left the project hacked the multi-signature wallet and stole 60% of the funds. This explanation seems questionable, as it is unclear why they would only steal a portion of the funds if they were truly malicious. Additionally, it is unclear how they were able to change the wallet requirements without requiring all the keys.
Overall, the situation surrounding Pepe and the alleged insider trading has raised concerns and left many unanswered questions.
What is the controversy surrounding Pepe?
The team changed the requirements for their multi-signature wallet
The team sold their coins behind the scenes
The team hacked the multi-signature wallet
Why has the price of Pepe dropped so much?
The team changed the wallet requirements
The team sold their coins behind the scenes
The team hacked the multi-signature wallet
Why is the explanation given by one of the founders questionable?
Founder claims three former members hacked wallet
Founders claim team dumped their coins
Founder claims team changed wallet requirements