Hackers Exploit Vulnerability in WLFI Token Following Trading Launch
World Liberty Financial (WLFI) holders face losses following a drop in token price and a security exploit. Key points include:
- WLFI launched with a supply of 24.6 billion tokens, initially rising to 33.13 cents before falling to 24.27 cents, as per CoinGecko.
- A phishing exploit linked to Ethereum's EIP-7702 allows attackers to drain WLFI tokens from compromised wallets.
- EIP-7702 was introduced to enhance user experience by enabling regular wallets to act like smart contract wallets for batch transactions.
- Attackers can embed malicious delegate contracts in compromised wallets, redirecting deposited funds to hacker-controlled addresses.
- Security expert Yu Xian reported multiple WLFI wallets were affected, warning that private key leaks often occur through phishing sites.
- Users are struggling to rescue their tokens, with one investor managing to transfer only 20% to a secure wallet.
- Other scams have emerged, including cloned WLFI contracts and phishing links on Telegram and X.