# Pepe review: Trust Score 48/100 (Mixed)

Source page: https://vaultx.llc/reviews/pepe · independent VaultX review by Rex · updated 2026-10-27

Meme coin with no roadmap, anonymous team, and a $16M multisig withdrawal that sparked rug-pull fears

PEPE launched in April 2023 as an Ethereum meme coin explicitly promising no intrinsic value, no formal team, no roadmap, and no financial returns—positioning itself as entertainment only. The project delivered on that non-promise: it has no product, no company, and an anonymous team. In 2024, investors reported a $16 million withdrawal from the project's multisig wallet, triggering widespread scam and rug-pull accusations on Reddit. The token reached an $11 billion market cap by December 2024 and remains actively traded, but its official website suffered a front-end malware attack, and no contract audit or transparency report appears in the record.

**Red flags**
- Anonymous team with no public founders or company
- Reported $16 million multisig withdrawal in 2024, sparking rug-pull accusations
- Official website suffered front-end malware attack (Blockaid report)
- No contract audit or treasury transparency report found
- Reddit users report exchange withdrawal restrictions
- Explicit disclaimer: no intrinsic value, no expectation of returns

**Green flags**
- No presale or ICO—fair launch on Uniswap in April 2023
- Reached $11 billion market cap by December 2024
- Liquidity pool tokens reportedly burned
- Active coverage by CoinDesk, Lookonchain, and major crypto news outlets
- Canary Capital filed S-1 for PEPE ETF in October 2026

**Sources**
- SwissBorg: PEPE coin overview https://swissborg.com/crypto-market/coins/pepe
- Bitget: What is PEPE coin? https://www.bitget.com/amp/news/detail/12560605381988
- DataWallet: What is Pepe Coin https://www.datawallet.com/crypto/what-is-pepe-coin
- CoinMarketCap: PEPE https://coinmarketcap.com/currencies/pepe/
- Crypto.com University: PEPE vs BONK https://crypto.com/us/university/pepe-vs-bonk
- Trust Wallet: A Beginner's Guide to Pepe Coin https://trustwallet.com/blog/academy/a-beginners-guide-to-pepe-coin
- Blockworks Token Transparency: PEPE filing https://blockworks.com/token-transparency/filing/pepe/ffbe70a4-8f54-4fd1-a941-e7e7cc76fffd
- LBank: PEPE Coin—From Internet Meme to Crypto Phenomenon https://www.lbank.com/explore/pepe-coin-from-internet-meme-to-crypto-phenomenon
- CoinDesk: PEPE tag https://www.coindesk.com/tag/pepe
- Lookonchain: PEPE token tracker https://lookonchain.com/token/pepe
- Crypto.com: PEPE latest news https://crypto.com/us/coins-ai/pepe/latest-news
- Public.com: PEPE news aggregator https://public.com/crypto/pepe/news
- 247 Wall St: PEPE jumped 24% in a week https://247wallst.com/investing/cryptocurrency/2026/10/23/pepe-pepe-jumped-24-in-a-week-while-bitcoin-fell-can-the-memecoin-rally-last/
- CoinMarketCap top stories: PEPE rally https://coinmarketcap.com/top-stories/6a6a24996c74342bd8745dc9/
- Big News Network: Justin Sun pulls $28M of PEPE https://www.bignewsnetwork.com/news/279388729/cryptocurrency-news-justin-sun-pulls-28m-of-pepe-as-pepeto-sits-150x-below-pepe-peak

Not financial advice. Nobody can pay for a VaultX review.

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