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True or False? The official PEPE account claims: Former team members dumped PEPE and left me with a multi-signature wallet.

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True or False? The official PEPE account claims: Former team members dumped PEPE and left me with a multi-signature wallet.

The official PEPE account issued a statement after PEPE coin was dumped, stating that the official multi-signature wallet was exploited by a rogue team member who attempted to shift the blame. However, the community seems to think otherwise.

PEPE team dumps millions of dollars worth of tokens, causing PEPE to drop nearly 20%

PEPE's move to crash the market sparks outrage, founder's dark history exposed

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PEPE Official Account: Three Former Team Members Accused of Stealing and Dumping Tokens

The official Twitter account of PEPE stated that on 8/24, 16 trillion PEPE tokens worth approximately $15 million were transferred and sold on different exchanges from the PEPE multisig wallet. The permissions of the multisig wallet were also reduced to 2 out of 8 signatories, changing the settings to require 3/4 signatories. Currently, there are still 10 trillion PEPE tokens left in the multisig wallet, along with one signature permission, which is now secure.

The PEPE official account mentioned that conflicts within the PEPE team were common from the start, leading to difficulties in communication and collaboration among team members, making it impossible to use the multisig wallet for donations or purchases.

However, on 8/24, three former team members secretly used the multisig wallet to steal and sell 60% of the PEPE tokens, then deleted their own multisig wallet permissions in an attempt to disassociate themselves from PEPE. They left a message stating, "The multisig wallet has been updated, now you are in full control."

PEPE Official Account: Token Sales Not Authorized by the Team

The PEPE official account clarified that the token sales were not authorized by the team and expressed apologies to the community for these unauthorized actions.

The remaining tokens have been transferred to a new wallet, and they plan to burn the remaining tokens to steer PEPE towards true decentralization.

True or False? Genuine or Not?

Is the statement from the PEPE official account true? Pauly, the founder of Not Larva Labs, believes that it is all lies.

@Crypto_Noddy also pointed out that the settings claimed by the PEPE official account are not accurate. The signatories of the multisig wallet have not been removed, and the permission settings were changed from 5 out of 8 to 2 out of 8. If the signature permissions were changed by 3/4 of the signatories as claimed, it would mean that someone simultaneously holds more than two signature permissions, which should also be disclosed.