Former Pepecoin (PEPE) 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.

The list of insiders in this post have started selling $PEPE 50 minutes ago.

400 billion $PEPE have already been sold mainly from this address:
0x22f6215b40434D9135B06f1C676fd9291936Aac3

You can trace their activity here:https://t.co/BYMz8cfrFE https://t.co/k0KCpeHTyR

— Yazan (@YazanXBT) August 26, 2023

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Author: Amaka Nwaokocha

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