After the alleged theft of over 16 trillion PEPE tokens, former Pepecoin promoter turned crypto influencer Jeremy “Pauly” Cahen accused the Pepecoin crew of engaging in bitcoin insider trading. Pauly is currently disclosing the identity of team members and their financial activity. On-chain experts also highlight major insider Pepecoin transactions.
PEPECOIN (Photo: nation.ik)
Pepecoin Team Faces Bitcoin Insider Trading Accusations
According to Benzinga, the allegations about Bitcoin Insider Trading appear soon after a considerable heist involving 16 trillion PEPE tokens, which has raised doubts about the coin.
Jeremy “Pauly” Cahen, a former Pepecoin promoter who is now a prominent crypto influencer, has been at the forefront of debunking these claims.
He asserts that the Pepecoin team is in possession of a sizable stash of PEPE tokens, valued at $16–$17 million.
These tokens were systematically moved among nine different wallets rather than sold, suggesting potential inside trading techniques, according to Cointelegraph. Concerns about the coin have increased as a result of this controversy, which appeared soon after a considerable heist involving 16 trillion PEPE tokens.
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Bitcoin Insider trading claims surface amid token theft
As per the recently published article in Cointelegraph, Pauly outlined the transaction activity of various members of the Pepecoin team and disclosed personal information about them. Pauly claims that the Pepecoin team is taking advantage of the community and that their claims about multisig wallets and PEPE holdings are entirely untrue.
Insider selling of PEPE holdings has started, with some 400 billion PEPE already sold, according to on-chain analyst Yazan, and this is timed to coincide with Pauly’s exposure of Pepecoin team members. In response, Yazan has urged cryptocurrency exchanges like Binance and OKX to put safeguards in place to stop insider trades.
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