Pepecoin: Insider trading claims surface amid token theft - New Style Motorsport

On-chain analyst Yazan reports insider selling of PEPE holdings,

with around 400 billion PEPE sold, aligning with Pauly’s team exposure.Former Pepecoin PEPEtickers down$0.000001

 promoter turned crypto influencer Jeremy “Pauly” Cahen has leveled insider trading

allegations against the Pepecoin team following the reported theft of around 16 trillion PEPE tokens.

Pauly is now exposing team members’ identities, divulging their wallet activities.

On-chain analysts also point to significant Pepecoin transactions involving insiders.

In an Aug. 26 update, Pauly disclosed that the Pepecoin team possesses approximately

$16–17 million in PEPE tokens distributed across nine wallets. Surprisingly,

the insiders refrained from selling the holdings. Instead, they strategically

offloaded PEPE from a centralized exchange (CEX) wallet, establishing a substantial short position.

“I’ll likely be working with multiple branches of law enforcement to ensure that

@degenharambe & the rest of his partners on the @pepecoineth team get brought to

justice as soon as possible. Their greed & crimes have caused undue harm to many.”

He has additionally revealed personal information about several individuals from the Pepecoin

team and detailed their transaction activities. According to Pauly, the Pepecoin team is

exploiting the community, and he asserts that their explanations regarding multisig

wallets and PEPE holdings are entirely false.

According to on-chain analyst Yazan, insider selling of PEPE holdings has commenced, with

approximately 400 billion PEPE already sold, coinciding with Pauly’s exposure of Pepecoin team

members. In response, Yazan has called upon crypto exchanges such

as Binance and OKX to implement measures to prevent transactions from insiders.

Pepecoin’s price has taken a bearish turn, plummeting by 15% due to selloffs executed by the team.

Despite a brief 10% increase, the PEPE price couldn’t maintain its momentum and has experienced a

decline, adding to the prevailing negative sentiment within the community.

According to CoinMarketCap, the PEPE price stands at $0.00000090 at

the time of writing, a 7% decrease over the last 24 hours.

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