- PEPE founder was doxxed by Jeremy Cahen, founder of an NFT marketplace, Not Larva Labs.
- Zachary Testa, a photographer known by pseudonyms on Twitter, is allegedly the PEPE founder.
- PEPE price dropped 16% following the suspicious transfer of 16 trillion PEPE tokens to exchanges, likely linked to the project’s founder being doxxed.
PEPE meme coin’s founder was doxxed in a tweet by an NFT marketplace founder early on Friday morning. Jeremy Cahen, the founder of Not Larva Labs, revealed that Zachary Testa, a landscape photographer, has been doxxed as the founder of PEPE.
According to on-chain intelligence tracker Look on Chain, the PEPE team moved 16 trillion of the meme coin’s tokens to crypto exchanges, leading to panic among holders. The meme coin’s price dropped 16% within a 24-hour timeframe as early buyers and PEPE holders dumped their tokens, responding to the uncertainty surrounding the project.
Who is the PEPE founder?
Zachary Testa, known by his pseudonyms @degenharambe and @LordKekLol on Twitter, is a landscape photographer and violator of trespassing norms on various sacred indigenous lands. Testa has been identified as the PEPE founder after confirming his connections with the listings team of leading cryptocurrency exchanges like Binance.
@pepecoineth Dox:— PAULY (@Pauly0x) August 24, 2023
Here is Zachary Testa aka @degenharambe aka @LordKekLol on TG from Phoenix, AZ.
He infamously bought an $865k purple Lambo with his $pepe earnings, all while his team didn’t give a cent to original Pepe the Frog creator @Matt_Furie. pic.twitter.com/93SO79bIXs
Testa came under the spotlight for his purchase of an $865,000 purple Lambo while not sharing earnings from the project with the creator of PEPE the frog meme, Matt Furie.
Cahen shared crypto wallet addresses linked with the PEPE creator in his tweet:
- 0xea40b0f6BA2aD77fF2FedAe98Ca67EaefCBCBE4A (badussy.eth)
The mysterious transfers made by PEPE’s team, when they moved 16 trillion meme coin tokens to exchanges, raised suspicion in the crypto community and this is likely linked to Testa getting doxxed.
A multi-sig wallet linked to the PEPE team moved $15.5 million in tokens to exchanges like Binance, Bybit and OKX, resulting in a subsequent sell-off by early buyers and PEPE coin holders.
While initially the multi-sig wallet required five of eight associated wallets’ approval, the criteria was changed to two before the mysterious transfers began. This roused suspicion in the crypto community. As PEPE holders grappled with the uncertainty, the token’s price has declined to $0.00000087 on Binance.
Bitcoin, altcoins, stablecoins FAQs
What is Bitcoin?
Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
What are altcoins?
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
What are stablecoins?
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
What is Bitcoin Dominance?
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.