Pepeto published three press releases within hours on July 11, each promoting the project's zero-fee decentralized exchange, cross-chain bridge, more than $10.4 million in self-reported presale funding, and an anticipated Binance listing.
While the announcements largely repeated the same marketing narrative, they described the project's development status differently. One press release said the exchange and cross-chain bridge had been completed and were “currently running through final testing,” while another stated the products were already “built and tested,” creating conflicting descriptions of the same milestone on the same day.
None of the press releases included a launch date for the exchange or confirmation from Binance that the token will be listed.
According to the project, its infrastructure was developed under the guidance of “a senior Binance developer,” or “the former Binance developer leading the project.” However, none of the three press releases identify the individual by name, making the claim impossible to independently verify.
Pepeto also presented the completion of a SolidProof audit as a key technical milestone ahead of the platform's public launch.
“This update follows the successful completion of a full smart contract audit by SolidProof, marking a clear technical milestone as the platform prepares for public availability.”
- Pepeto.
However, the claim is misleading. The linked SolidProof report is dated Oct. 30, 2024, and covers the project's ERC-20 token smart contract rather than the decentralized exchange or cross-chain bridge highlighted throughout the announcements.
The audit found one informational issue and explicitly states that it does not guarantee the security or functionality of the technology reviewed and should not be used as investment advice. The audit report does not evaluate the exchange infrastructure described in the July 11 press releases.
The three announcements also continued Pepeto's repeated references to an upcoming Binance listing. The project described the listing as an expected milestone supporting its ecosystem launch, but none of the releases cited a Binance announcement, listing notice, or any confirmation from the exchange itself.
Taken together, the July 11 releases largely recycled previously disclosed claims while presenting inconsistent descriptions of the project's technical readiness. They also cited a token smart contract audit as a technical milestone for an exchange and cross-chain bridge that were not covered by the published security review.
