Pepe Coin Telegram Hack Risks Potential Dump By Whales
09/09/2023 20:06
Pepe Coin, amidst a major token theft, has recently faced a compromised Telegram account, raising concerns about its future performance.
In the latest announcement of September 9, the official X account of PEPE alerted its community to a security breach in the Pepe Telegram account. Meanwhile, the frog-themed meme crypto, Pepe Coin has gained traction lately, mainly due to internal disputes among its founding team members and a significant theft of more than 16 trillion PEPE tokens ($15 million). The tokens were later sent to various centralized exchanges.
Pepe Coin Telegram Compromised
According to the recent announcement by the Pepe team, the old telegram account has been compromised and is “no longer” under their control. The update said that the account named “lordkeklol” had been hacked by an unauthorized user, who was promoting scams, deceiving people, and launching other cryptocurrencies.
The team behind the project has confirmed that the individual has no association with PEPE or any of its current or past members. Additionally, in the update, the team has requested its community to report the group as a “fake account” to have it removed, so that they can establish a new one with enhanced security measures.
For the time being, all official updates from PEPE in the coming weeks will be communicated exclusively through their X account, the update said.
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Performance of Pepe Coin Amid Uncertainties
During writing, the PEPE coin was near the flat line in the last 24 hours to trade at $0.0000007882. However, its trading volume dropped 18.71% to $33.32 million.
Now, many investors are panicked that the crypto, which was already creating headlines after its former internal members stole nearly $15 million worth of PEPE tokens, might continue its decline.
The PEPE coin project has been experiencing a conflict between former and current founders of the meme coin. On August 24, unexpected transactions took place and the tokens were sent to multiple crypto exchanges like OKX, Binance, KuCoin, and others.
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