Home ยป The Pepe Coin Telegram hack poses a risk of potential dumping by large cryptocurrency holders.

The Pepe Coin Telegram hack poses a risk of potential dumping by large cryptocurrency holders.

Pepe Coin experiences token theft and compromised Telegram account, causing worries about its future performance.

by V. Sinclair
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In a recent announcement on September 9, the official X account of PEPE alerted its community about a security breach in the Pepe Telegram account. The frog-themed meme crypto, Pepe Coin, has gained attention due to internal disputes among its founders and a significant theft of over 16 trillion PEPE tokens ($15 million). These tokens were subsequently sent to various centralized exchanges.

Pepe Coin Telegram Compromised

According to the recent announcement by the Pepe team, the old Telegram account has been compromised and is no longer under their control. The account, named “lordkeklol,” was hacked by an unauthorized user who engaged in promoting scams, deceiving people, and launching other cryptocurrencies.

The team has confirmed that this individual has no affiliation with PEPE or any of its current or past members. They have requested the community to report the group as a fake account to have it removed, with plans to establish a new account with enhanced security measures.

For the time being, all official updates from PEPE will be exclusively communicated through their X account, as stated in the update.

Performance of Pepe Coin Amid Uncertainties

At the time of writing, PEPE coin was trading near the flat line in the last 24 hours, at $0.0000007882. However, its trading volume has decreased by 18.71% to $33.32 million.

Many investors are now concerned that the crypto, which had already made headlines due to the theft of nearly $15 million worth of PEPE tokens by former internal members, may continue to decline.

The PEPE coin project has been embroiled in conflicts between former and current founders of the meme coin. Unexpected transactions occurred on August 24, resulting in the tokens being sent to multiple crypto exchanges such as OKX, Binance, KuCoin, and others.

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