Not Larva Labs Founder Pauly: Pepe Coin Announcement is 100% Bullshit

blockchain.news:

The cryptocurrency community is in a stir following a recent announcement from the official $PEPE coin account detailing unexpected transactions. On August 24th, 2023, approximately 16 trillion $PEPE tokens, valued at around $15m USD, were transferred from the $PEPE multisig CEX Wallet to various crypto exchanges. The required signer count was also altered. The announcement delved into internal conflicts within the $PEPE team, pointing fingers at bad actors and greed.

However, the announcement was met with skepticism. Not Larva Labs Founder  Pauly (@Pauly0x) responded sharply, stating, «This little fuck @degenharambe just implicated himself in major financial crimes. He is in deep shit now.»

Another user, CryptoNoddy (@Crypto_Noddy), highlighted potential inaccuracies in the official statement, pointing out, «In my opinion, there are several misleading/incorrect statements made here. Firstly, there is not one signer remaining. The multisig remains a 2/8, having been decreased from 5/8. No signers have been removed. It has not been updated other than the threshold changing to 2.»

The official $PEPE statement painted a picture of a coin marred by internal strife since its inception. It alleged that a majority of the team began distancing themselves shortly after the project's launch, obstructing progress due to disagreements. The multi-sig, initially requiring 3 out of 4 signers for approval, saw three ex-team members allegedly transfer 60% of the tokens to exchanges for sale, subsequently distancing themselves from the project.

The announcement expressed shock at these actions and extended an apology to the community for the ensuing fear, uncertainty, and potential losses. It emphasized that the CEX-wallet tokens were