{"id":21526,"date":"2023-08-25T00:28:16","date_gmt":"2023-08-25T00:28:16","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/pepe-multisig-mysteriously-transfers-out-16-trillion-tokens-investors-concerned\/"},"modified":"2023-08-25T00:28:32","modified_gmt":"2023-08-25T00:28:32","slug":"pepe-multisig-mysteriously-transfers-out-16-trillion-tokens-investors-concerned","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/pepe-multisig-mysteriously-transfers-out-16-trillion-tokens-investors-concerned\/","title":{"rendered":"$PEPE Multisig Mysteriously Transfers Out 16 Trillion Tokens, Investors Concerned"},"content":{"rendered":"<div>\n<p class=\"\">Investors of the popular meme coin, $PEPE, were (understandably) alarmed on Thursday after millions of dollars worth of $PEPE were suddenly transferred to crypto exchanges, including Binance, OKX, and Bybit.<\/p>\n<p>Interestingly, this incident marked the first instance in which the project\u2019s essential multi-sig wallet participated in sending out PEPE tokens.\u00a0<\/p>\n<p>Thursday\u2019s sudden surge of over 16 trillion $PEPE tokens naturally created apprehension among investors, also causing a subsequent drop in its trading price. <\/p>\n<p>This strangely followed what appears to be an even more alarming phenomenon \u2013 changing the number of required crypto wallets required to \u201csign off\u201d on a transaction that authorizes the crypto transaction to go through.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><\/figure>\n<p>PEPE\u2019s multi-sig wallet, which is responsible for safeguarding a substantial portion of $PEPE tokens and is one of the largest holders of the meme coin, previously required approval from five out of eight designated wallets (5\/8 signatures) to authorize any given transaction.\u00a0<\/p>\n<p>However, according to some \u201con-chain sleuths,\u201d they noted these troubling changes after the multi-sig wallet suddenly reduced that threshold to just two out of eight signatures (2\/8 signatures).\u00a0<\/p>\n<p>Memecoins like Pepe Coin, Dogecoin, and Shiba Inu, are digital currencies created and promoted around a popular internet meme or cultural trend.<\/p>\n<p>Pepe Coin, for example, was inspired by Pepe the Frog, while Dogecoin, was inspired by a 2013 joke between Billy Markus and Jackson Palmer.\u00a0<\/p>\n<p>In the digital asset landscape, these meme-coins are often created as a joke or a way to mock the serious nature of traditional cryptocurrencies \u2013 with the irony being that they can still gain and maintain significant value based on its community following.\u00a0<\/p>\n<p>This is a developing story and will be updated with more details.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Investors of the popular meme coin, $PEPE, were (understandably) alarmed on Thursday after millions of dollars worth of $PEPE were suddenly transferred to crypto exchanges, including Binance, OKX, and Bybit. Interestingly, this incident marked the first instance in which the project\u2019s essential multi-sig wallet participated in sending out PEPE tokens.\u00a0 Thursday\u2019s sudden surge of over [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[43],"tags":[],"class_list":["post-21526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>$PEPE Multisig Mysteriously Transfers Out 16 Trillion Tokens, Investors Concerned | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/nft\/pepe-multisig-mysteriously-transfers-out-16-trillion-tokens-investors-concerned\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$PEPE Multisig Mysteriously Transfers Out 16 Trillion Tokens, Investors Concerned | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"Investors of the popular meme coin, $PEPE, were (understandably) alarmed on Thursday after millions of dollars worth of $PEPE were suddenly transferred to crypto exchanges, including Binance, OKX, and Bybit. 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