WLFI Freezes 272 Wallets, Citing User Protection from Phishing Attacks
World Liberty Financial (WLFI) has frozen 272 wallets, including those belonging to Justin Sun, to protect users from phishing attacks. WLFI clarified its intent was not to disrupt trading.
Key points include:
- 215 of the blacklisted wallets were linked to phishing incidents.
- Justin Sun's address was frozen after he conducted several internal transfers, which did not involve actual sales.
- Nansen data shows Sun transferred 50 million WLFI worth $9.2 million shortly after the token's price drop, indicating he did not trigger the decline.
- A $12 million WLFI transfer from HTX to Binance by a third-party market maker occurred post-decline and was deemed insufficient to impact the market.
- General market trends, including shorting and dumping via various exchanges, are identified as primary causes for WLFI’s price drop.
- WLFI is currently priced at $0.18, down 40% since its listing.
The move to freeze wallets has raised concerns among market participants about potential arbitrary actions against their assets.