Three Former Peepcoin Team Members Allegedly Stole $15 Million in PEPE Tokens but

Three former members of the Peepcoin team have been accused of stealing $15 million worth of PEPE tokens. The three were reportedly arrested by the U.S. Department of Justice and are seeking extradition to face charges in New York courts.

The report, reported by Reuters, said the warrant was issued by a grand jury in Manhattan. In addition to stealing PEPE tokens, they are also accused of fraud and operating an unauthorized money transfer business. Two other people, who remain unnamed, have also been charged with aiding the laundering of the trio's ill-gotten gains.

Peepcoin was created as a social media platform for cryptocurrency enthusiasts to connect through peer-to-peer transactions. The launch date was originally set for October 13th, but was pushed back due to concerns over security issues related to the network implementation of extensions known as flippening.

Peepcoin founder Devon Hoey is currently facing multiple charges, including wire fraud, wire fraud, securities fraud, money laundering and conspiracy to operate an unauthorized money transfer business, according to court documents obtained by Reuters and published online. is being asked. He is being held on $1 million bail.