The cryptocurrency company World Liberty Financial, controlled by the Trump family, successfully resisted a coordinated attack targeting its founder X account. The attack aimed to spread panic about its $1 stablecoin. The attackers opened a large number of short positions in an attempt to profit from potential de-pegging, but the company stated that its issuance and redemption mechanisms, along with full 1:1 backing, ensured the stable trading of the $1 stablecoin. As of press time, the trading price of the $1 stablecoin was $0.9991, and the company's WLFI token dropped 8.2% following the incident. No smart contracts or wallets were compromised.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
The cryptocurrency company World Liberty Financial, controlled by the Trump family, successfully resisted a coordinated attack targeting its founder X account. The attack aimed to spread panic about its $1 stablecoin. The attackers opened a large number of short positions in an attempt to profit from potential de-pegging, but the company stated that its issuance and redemption mechanisms, along with full 1:1 backing, ensured the stable trading of the $1 stablecoin. As of press time, the trading price of the $1 stablecoin was $0.9991, and the company's WLFI token dropped 8.2% following the incident. No smart contracts or wallets were compromised.