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PEPE Token's Blacklist Functionality Used to Block Address Holding $8 Million in Tokens

Cointime Official

May 6 (Cointime) - According to a Twitter post by software engineer cygaar @0xCygaar,  the contract code for the PEPE token includes a blacklist functionality that allows the deployer to block someone from receiving or sending tokens.

Only one address, 0xAf2358e98683265cBd3a48509123d390dDf54534, has been blacklisted so far, and it happened just 8 minutes after the address purchased over 2.5 trillion PEPE tokens, worth about $8 million at current prices, within a couple of hours of the Uniswap pair being launched. The tokens held by the blacklisted address can be considered locked up forever, as the blacklist can never be modified due to the deployer renouncing ownership of the contract.

Read the full thread:

  Here's the contract address: https://etherscan.io/address/0x6982508145454ce325ddbe47a25d4ec3d2311933#code

1) There is blacklist functionality in the contract that blocks someone from receiving or sending tokens.  

2) This address, 0xAf2358e98683265cBd3a48509123d390dDf54534, was actually blacklisted by the PEPE deployer. They own 2519324010963 tokens that are locked up forever. These coins are worth about 8 million USD right now.

  3) The blacklisted address purchased $PEPE within a couple hours of the Uniswap pair being launched. They were blacklisted by the PEPE deployed 8 minutes after purchasing the tokens. Purchase txn:

https://etherscan.io/tx/0x08153c0546e4f73b178edae90d1e30fb519c7c49ff0dcd00e4b0bcd74dab468c

4) No other address has been blacklisted. 

5) The blacklist can never be modified because ownership of the contract was renounced. Here's the txn that did it: https://etherscan.io/tx/0x91c9a6caf8e7b5419a7e597982a0cf9b4fc01413279ab840bb57a2e9c528f252…. All owner only functions are bricked forever, including blacklist modifications.  

6) There was once a minimum and maximum token amount that an address needed to follow before it could purchase from the Uniswap pair. This threshold was removed right before the deployer renounced ownership.

7) There is burn functionality in this contract, but there is no further minting ability. This means that the supply of PEPE can only decrease from here on out. The tokens held by the blacklisted address can be considered locked up forever as well.

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