PEPE's $16M Nightmare: Ex-Team Under Fire

[Wakate]

This is sad because they were a team but what can you do when the other people don't have the same mindsets, especially the same goals as you.

Those people remained hoping they would be loyal and would help each other to improve their project to the point it could keep up with their competitors in the crypto market. This is a big lesson for all of them because when money is involved, only a few will stay loyal and remain.

This is why we need to be very careful of whom we trust to avoid unnecessary complains. The project were built by the same team and they should have not abandoned the project because of greed and hunger for money. Pepe was a good project I have been fantasizing to make an investment on but I was surprised to notice that the market had fallen drastically without hope that it will go back to the previous high. This is why we need to measure our weight when making investment so that if anything happens, we can still bear the lose.

[Hanadawa]

This is the company's mistake and this is a risk that must be borne by the entire team even though it is part of them who did it. The lesson we can take is to always be careful when it comes to money. Don't give full access to anyone other than yourself. Even if it is your closest friend.
I once came across a quote that said that one way to see someone's true character is: That is when it comes to traveling together or doing business together. Because those two things can give us an idea of a person's character.

[xaohoal2fa]

How can you create a meme coin with no real-world value that has a market capitalization and trading volume surpassing even well-funded projects with high practical applications? It's evident that this market is in great need of new, greedy investors who are eager to get rich quickly based on meme coins.

[wheelz1200]

Three former members of the PEPE community are alleged to have stolen $16 million worth of PEPE tokens from the project's multisig wallet and transferred control to the only remaining member.

The anonymous founding member clarified the situation, explaining that the ex-team members stole the funds and abandoned the project, leaving control in the hands of the remaining member. The stolen funds were sent to exchanges for selling, while the remaining member and the remaining 10 trillion PEPE tokens are secured.

The remaining member is now focused on moving forward in the best interest of the PEPE community. This is what happens when you trust anonymous frogs with your money.

Source: https://cointelegraph.com/news/rogue-pepecoin-team-members-blamed-for-pepe-multsig-withdrawal

This is what happens when you actually put your money in memes or things that completely don't make sense.  The whole project revolves around a frog meme.  I mean what did people really expect the "developers" were actually going to do, run a legit project? 😅

[carlfebz2]

Three former members of the PEPE community are alleged to have stolen $16 million worth of PEPE tokens from the project's multisig wallet and transferred control to the only remaining member.

The anonymous founding member clarified the situation, explaining that the ex-team members stole the funds and abandoned the project, leaving control in the hands of the remaining member. The stolen funds were sent to exchanges for selling, while the remaining member and the remaining 10 trillion PEPE tokens are secured.

The remaining member is now focused on moving forward in the best interest of the PEPE community. This is what happens when you trust anonymous frogs with your money.

Source: https://cointelegraph.com/news/rogue-pepecoin-team-members-blamed-for-pepe-multsig-withdrawal

This is what happens when you actually put your money in memes or things that completely don't make sense.  The whole project revolves around a frog meme.  I mean what did people really expect the "developers" were actually going to do, run a legit project? 😅

Possible but its unlikely, come to make some reflection on SHIB which it is really a meme coin but it did make out some significant changes and make out some development and did make that actual utility.Although

it wasnt still that been launched or i just missed about Shibarium which it did really make this project pulling out on meme category. This is why you cant really blame out to those $PEPE supporters on having that impression too. Memes are indeed not really that worth to be hold for long term because of that absence of utility but basing up on what we are seeing on a market or having that history then you cant really be able to blame out people on not to take up some chances on diving in whenever they do see those opportunities. They wont really be liking on missing out again on becoming rich or making tons of money out of those investment.

This is why situations like this could really be totally random and on investors point of view then making out decisions like this wont be simple. This is why we do really
need to take up some risks if we do have plans on attaining something but of course there's no assurance whether it would succeed or not.

[Silberman]

How can you create a meme coin with no real-world value that has a market capitalization and trading volume surpassing even well-funded projects with high practical applications? It's evident that this market is in great need of new, greedy investors who are eager to get rich quickly based on meme coins.

Meme coins only serve two purposes, the first one is for scammers to enrich themselves greatly with no effort at all, the second goal is for speculators to try to outsmart each other and make a lot of money as quickly as possible, however while the scammers have almost no chance to fail, as the costs of creating a meme coin are zero, those that invest in a useless meme coin risk losing all the capital they invested in it, and unfortunately for them this is the most likely outcome they can get.