Blacklisted Wallet Holding $12M in PEPE Exposes Smart Contract Risks

• —The wallet received 2.519 trillion PEPE in April 2023 and was blacklisted eight minutes later
• —The position is worth roughly $12 million on paper but cannot be transferred
• —PEPE's contract ownership was renounced, yet the existing blacklist restriction remains
• —Canary Capital told the SEC that PEPE's contract is immutable and cannot block transfers