Summary
- World Liberty Financial (WLFI) said a coordinated attack targeting its stablecoin USD1 occurred but ended in failure.
- WLFI said attackers hacked co-founders’ accounts, bribed influencers, and attempted to take large WLFI short positions, but did not succeed.
- WLFI emphasized that USD1 continues to stably hold its $1 value, backed by a robust mint-and-redeem mechanism and a fully collateralized 1:1 structure.
World Liberty Financial (WLFI) said a coordinated attack targeting its stablecoin USD1 occurred but ultimately failed.
On the 23rd (local time), WLFI claimed that “attackers hacked accounts of several co-founders,” adding that they “bribed some influencers to foment fear, uncertainty and doubt (FUD), and used the artificially created turmoil to take large WLFI short positions.” It added, however, that “the attempt failed.”
WLFI also stressed that “USD1 continues to reliably maintain its $1 value thanks to a robust mint-and-redeem mechanism and a fully collateralized 1:1 structure,” adding that “no attack can shake the team’s and co-founders’ long-term commitment.”
No detailed information was disclosed regarding the scale of the hack, the extent of the damage, or the size of the short positions.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
