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Pepe (PEPE) faced a sharp downfall on Friday morning as millions of dollars' worth of the cryptocurrency were swiftly transferred from the project team's wallet to various exchanges.

Binance Liquid Swap, a centralized trading platform launched in 2020 as part of Binance's efforts to capture the decentralized finance (DeFi) market, announced the removal of several liquidity pools, including those featuring Cardano (ADA) and the meme-based token Pepe.

Unprecedented transactions out of a multisig wallet spooked Pepecoin watchers last week.

Jeremy Pauly Cahen, a notable cryptocurrency advocate and former promoter of Pepecoin (PEPE), has recently accused the Pepecoin team of being involved in insider trading activities. This controversy erupted after a massive theft of approximately 16 trillion PEPE tokens came to light.

This investors saw one of the most impressive ROIs seen lately.

PEPE sell-offs continued as an early buyer sold its remaining 1 trillion PEPE. Market indicators procceded to remain bearish.

Pepe Coin (PEPE) has thrust itself back into the spotlight, but this time conversations revolve around its recent underperformance — a substantial 19% decline over the past week. However, the meme token posted a slight gain today.

This week, Binance takes the spotlight amid allegations of market manipulation and sanction violations. Meanwhile, regulators ramp up enforcement actions against a backdrop of crypto-related crimes — the latest involving Pepe Coin.

Approximately 16 trillion PEPE tokens worth $15 million were illicitly transferred to crypto exchanges and sold, according to an announcement from the meme coin's anonymous lead developer. The theft was allegedly orchestrated by three former team members who accessed the token's multi-signature wallet before removing themselves from the project.

Meme cryptocurrencies have always been lucrative investments for market participants for their dynamic move and massive returns. Though their volatility may shake out some investors, with the right setup they can offer huge ROI.

More volatility might lie in wait for the frog-themed cryptocurrency Pepe (PEPE), judging by a spike in its social discussions.

Over the weekend, Pepe grabbed the spotlight on the market, but not for its performance or innovation, but for a scandal involving the alleged removal of $16 million by former team members. This incident has catapulted Pepecoin into the limelight, making it one of the top trending assets on the market.

An early investor in Pepe (PEPE) cashed out a staggering 1 trillion tokens for 537 Ethereum, roughly equating to $885,000, according to recent data provided by blockchain sleuth Lookonchain.

Pepe ($PEPE), a token inspired by the infamous meme and cartoon character Pepe the Frog, was introduced to the market on 17 April 2023. The $PEPE community has been rocked by a massive internal betrayal. Approximately 16 trillion $PEPE tokens, valued at around $15 million USD, were allegedly stolen and transferred to various cryptocurrency exchanges.

Former Pepecoin promoter turned crypto influencer Jeremy “Pauly” Cahen alleges that the Pepecoin team engaged in insider trading by moving around 16 trillion PEPE tokens from a centralized exchange wallet. On-chain analysts like Yazan back these claims, highlighting notable transactions involving the team members.

Insider trading claims cast a shadow over Pepecoin as former promoter Pauly alleges irregularities within the project amidst a reported token theft. The community is left grappling with accusations, exposing a concerning web of events.

The value of PEPE, one of the most promising assets in the second quarter of 2023, has been faltering in recent weeks. According to CoinGecko data, the meme coin has been in a 33.6% price decline in the last 14 days.

PEPE's official Twitter handle posted a tweet revealing the reason behind the memecoin's recent downfall. Whales used the opportunity to increase accumulation.

The 10 trillion remaining $PEPE under project control will be burned to ensure decentralization.

One of PEPE's early adopters is officially out after making over $1.7 million in profit, translating to a 54,725x gain in less than six months. In a tweet shared by Lookonchain on August 26, the meme coin trader bought 1.69 trillion tokens, spending roughly $36, minutes after the project was launched in late April 2023.

The cryptocurrency world is buzzing with recent allegations surrounding Pepecoin (CRYPTO: PEPE). The team behind this digital currency is now under the spotlight, accused of insider trading.

Deflationary meme currency Pepe Coin is embroiled in a web of controversy surrounding a significant token theft and accusations of insider trading.

$16 million was suspiciously stolen from the Pepecoin (PEPE) project's multisig wallet, sending shockwaves through the crypto world.

While most leading cryptocurrencies spent the week recovering, shady transactions from PepeCoin's team kept the meme coin in free fall.