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Pepecoin: Insider trading claims surface amid token theft
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.
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