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Pepecoin: Allegations of insider trading arise following token theft.

Crypto influencer Jeremy “Pauly” Cahen, formerly associated with Pepecoin promotion,

has made serious allegations of insider trading against the Pepecoin team following the reported theft of approximately 16 trillion PEPE tokens.

In a surprising turn of events, Pauly has revealed the identities of team members and exposed their wallet activities.

On-chain analysts have also identified significant Pepecoin transactions involving insiders.

In an update on August 26th, Pauly disclosed that the Pepecoin team holds an estimated $16-17 million worth of PEPE tokens distributed across nine wallets.

Interestingly, the insiders have chosen not to sell their holdings.

Instead, they have strategically offloaded PEPE tokens from a centralized exchange (CEX) wallet, establishing a considerable 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.”

Whistleblower Jeremy “Pauly” Cahen has gone a step further by exposing personal details of multiple individuals within the Pepecoin team and providing intricate information about their transaction history.

Pauly strongly alleges that the Pepecoin team is taking advantage of the community,

refuting their claims about multisig wallets and the actual amount of PEPE holdings,

dismissing them as completely untrue.

These revelations come to light on the specified date and bring further scrutiny to the Pepecoin project.

Insider selling of PEPE tokens has commenced, with approximately 400 billion PEPE already sold, coinciding with the exposure of Pepecoin team members by whistleblower Pauly.

On-chain analyst Yazan has called upon crypto exchanges like Binance and OKX to implement preventative measures against transactions involving insiders.

The bearish sentiment surrounding Pepe coin has caused a significant 15% price drop, despite a brief 10% increase.

The PEPE price has struggled to maintain its momentum and has experienced a decline, further contributing to the negative sentiment within the community.

As of the current writing, CoinMarketCap reports the PEPE price at $0.00000090, representing a 7% decrease over the past 24 hours.

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