As a governance outcome following the August multisig incident, the project burned 6.9 trillion PEPE (about 1.6% of supply) and announced a new team of advisors to guide the token forward, prompting a ~31% price rise.
After the theft, the team members removed themselves from the multisig and deleted their social accounts, leaving the sole remaining anonymous founding member in full control of the project and the official X account.
Rogue ex-team members lowered the multisig signature threshold and funneled about 16 trillion PEPE (roughly $15M) from the CEX multisig wallet to exchanges including OKX, Binance, KuCoin and Bybit, sparking rug-pull fears and a ~15% price drop.
An anonymous team launched PEPE, an ERC-20 meme coin inspired by the Pepe the Frog internet meme, with no presale, zero transaction taxes, burnt liquidity, and a renounced contract.
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