Trump Crypto Company Says ‘Coordinated Attack‘ on Stablecoin Failed
World Liberty Financial reported a failed coordinated attack involving hackers, short sellers, and paid influencers targeting its USD1 stablecoin and WLFI token.Summary
World Liberty Financial (WLFI), a crypto company backed by Donald Trump and his sons, claimed it successfully defended against a coordinated attack involving hackers targeting cofounder accounts, massive short selling of the WLFI token, and paid influencers spreading FUD. The attack briefly caused the WLFI token price to dip by about 7% and the USD1 stablecoin to momentarily lose its $1 peg, falling to $0.994 before recovering. World Liberty attributed the stability to USD1's sound mint-and-redeem mechanism and 1:1 backing. This incident followed a crypto forum organized by WLFI at Mar-a-Lago. Scrutiny remains over WLFI's ties to Binance, which reportedly helped create USD1 and holds a significant portion of its circulation, especially following Trump's pardon of former Binance CEO Changpeng Zhao.
(Source：Cointelegraph)