“Sun Yuchen was officially slapped in the face! The $WLFI blacklist incident exposed, 600 million tokens frozen overnight!”
The cryptocurrency market has recently stirred up again, this time surrounding Sun Yuchen and the $WLFI project he is involved with. He previously promised "not to cut韭菜 (scam investors)", but his actual operations have raised a lot of doubts, becoming a case of ambiguous truths akin to a Rashomon incident.
During the $WLFI presale, Sun Yuchen locked 3 billion tokens in advance and unlocked 600 million on the first day of the launch. He publicly promised not to sell, but at the same time, he launched a staking pool with an annualized return of 20% on his own exchange HTX to attract users to deposit coins.
Many investors felt that since the big shot said he wouldn't sell, participating in staking could still earn interest, thus a large number of tokens flowed into the exchange.
However, in reality, according to on-chain data, these deposited tokens were quietly transferred to other exchanges and sold at high prices. Sun Yuchen claimed "not to sell", but the actual team may have been offloading all along.
What raises even more suspicion is that the $WLFI price has been continuously declining, leaving retail investors confused: clearly no one is selling in bulk, so why does the coin price keep falling? Some viewpoints suggest that Sun Yuchen's team not only sells tokens but may also be shorting for profits, putting ordinary holders at risk.
After the situation spiraled out of control, the $WLFI project team blacklisted Sun Yuchen's wallet address, freezing the tokens he had not yet unlocked.
Although this move protected some investors, it also sparked controversy: in the decentralized cryptocurrency world, is such "centralized" intervention reasonable?
This incident not only damaged Sun Yuchen's personal credibility but also exposed once again the reality of a lack of transparency and oversight in the cryptocurrency market. High return promises often hide high risks; for ordinary investors, vigilance is the most important.
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