Arkham Links $51.25M in PEPE to Justin Sun Wallets

Arkham Intelligence estimates that wallets it links to Justin Sun hold about $51.25 million in PEPE, representing 2.82% of the token’s supply and making the attributed wallets the largest identified individual holding. The estimate is based on blockchain analysis and does not independently establish that Sun beneficially owns or controls every wallet. Arkham traced most of the position to two withdrawals from Poloniex. On October 17, about 7.2 trillion PEPE, valued at $28.44 million at the time, moved to a wallet attributed to Sun. On October 26, a further 4.65 trillion tokens, then worth $20.32 million, were withdrawn. The transfers totaled $48.76 million at the time and brought the reported balance to about 11.85 trillion PEPE. Before the first withdrawal, Sun-attributed wallets held roughly 68 billion PEPE, worth about $267,000, according to Arkham. The analytics firm’s estimate of the overall position includes the recent transfers and other tokens attributed to the wallets. The holdings represent an individual-level comparison, not the largest PEPE position overall; centralized exchanges hold larger balances, much of which may represent customer assets. Arkham also...