As it is known, a major crisis emerged in the PEPE token a short time ago.
The threshold value of multisig wallets with the authority to make changes to the smart contract of the token was reduced from 5/8 wallets to 2/8 wallets, and a large amount of PEPE altcoins from these multisig wallets were moved to central exchanges and sold.
A statement was released this morning from the PEPE team on the subject. According to the statement, some names from the developer team wanted to get out of the administration by selling their coins since the establishment of the token, but these people were not allowed. In the statement, it was reported that these people secretly sold 16 trillion PEPE, lowering the threshold to 2/8.
In the statement, it was argued that these people are no longer in the management and the team members remaining in the management are people loyal to the token. It was claimed that there was only one wallet with signature authority from now on, and that it was in safe hands.
It was also stated that the Telegram account of the token was hacked and access was lost.
Analyst Recognizing the Change in Smart Contract: “The Number of Wallets with Signature Authority Has Not Changed”
However, a statement came from the analyst who first noticed that the threshold value in multisig wallets was lowered. The analyst argued that the statement from the PEPE team provided misleading and incorrect information. According to the analyst, the number of wallets with signing authority has not been reduced to one, and 2/8 wallets are still needed to make changes to the smart contract.
In addition, the analyst added that none of the multisig wallets alleged to have betrayed the team were removed from among the wallets with signing authority.
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. https://t.co/qAZRExNIig pic.twitter.com/NKDr3zrFJZ
— CryptoNoddy (@Crypto_Noddy) August 26, 2023
*Not investment advice.
