"When the WFLI coin opened for public trading on Monday, it was valued at about 40 cents. That number sounds humble, though would make it one of the most valuable cryptocurrencies in the world by market cap. But like other Trump-adjacent properties before it, WLFI began to tumble whenpre-market hype met reality. By the end of the day, it closed around 23 cents. If you were to buy at the beginning of the day, you would have seen about half of your on-paper value disappear."
"Hours after the market closed, some buyers began to report on the official WLFI forum that they were being targeted by hackers who were draining their accounts of new coins. WLFI operates on the Ethereum blockchain, which had a recent upgrade that hackers used to exploit the accounts to steal their coins. "The instant the tokens arrive, they will be stolen by automated sweeper bots before we have a chance to move them to a secure wallet," one user wrote."
World Liberty Financial launched the WLFI token for public trading, opening around $0.40 and closing near $0.23, erasing roughly half of early buyers' on-paper value. World Liberty Financial has received large investments including $75 million from Justin Sun and $2 billion from a state-owned Emirati firm, prompting potential conflict-of-interest concerns. The WLFI coin's purpose and use case remain vague. After trading began, buyers reported accounts being targeted by hackers exploiting a recent Ethereum upgrade, with automated bots allegedly stealing newly received tokens before users could move them to secure wallets. Company executives include Donald Trump Jr., Eric Trump, and Zach Witkoff.
Read at Intelligencer
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