Recently, Sun Yuchen has once again attracted attention due to cryptocurrency controversies, with the focus this time on the $WLFI, which has a market value of several billion dollars. From secret dumping, high-yield bait to large-scale manipulation accusations, if true, this not only poses a personal credibility crisis but also reflects the potential risks in the crypto financial system.
1. 3 billion presale chips + 20% annual return: is it a seemingly guaranteed profit 'trap'?
Sun Yuchen obtained about 3 billion tokens during the WLFI presale phase, unlocking 20% (600 million) on the day of launch. He publicly promised the community that he 'would not sell', and soon after, the HTX exchange launched the WLFI staking pool to attract investors with a 20% annual return. Most people believed that 'since the official won't sell, staking is guaranteed profit', and they eagerly deposited tokens, leading to a surge in market confidence.
2. Promises and actions contradict? Accused of 'selling out in secret'
Just when investors thought it was 'safe and worry-free', the questioning voice followed: there are rumors that after a large number of tokens flowed into the HTX wallet, Sun Yuchen secretly transferred them to other exchanges for high-level selling. The so-called 'I won't sell' was actually completed through indirect operations.
3. The mystery of the continuous price drop: suspected 'smashing the market + short selling' dual harvesting
In the face of the confusion of 'no one is selling yet it keeps falling', the market speculates point to Sun Yuchen—who is accused not only of secretly selling off to lower prices but also of profiting a second time from the decline through opening short positions, creating a situation of 'dual harvesting'.
4. High-risk operations: the hidden dangers of 'empty-handedly taking advantage'
The entire operational logic has been pointed out as: high position selling → smashing the market and short selling → low-price repurchase → returning to the pledge pool. What seems to be a 'smart' closed loop is actually extremely risky: if the $WLFI price unexpectedly continues to rise, the assets of pledged investors may face the risk of being completely emptied.
5. The team's urgent 'blacklist and freeze': a helpless stop-loss move
As the situation went out of control, the $WLFI team quickly took strong measures: not only blacklisting the wallet that held the 600 million tokens unlocked by Sun Yuchen but also freezing the remaining 2.4 billion unlocked tokens. This action was both a public rebuttal to Sun Yuchen and a way to prevent HTX platform investors from losing everything.
6. The conflict between the ideal of decentralization and reality
“The blacklist and frozen tokens, isn't this a centralized operation?” The questioning voice followed. But the reality is that without timely intervention, thousands of investors will instantly suffer huge losses. Between the ideal of decentralization and the reality of protecting users, the team chose to prioritize user protection with an emergency stop-loss.
Currently, the $WLFI incident is still fermenting. No matter what the final truth is, it has once again sounded the alarm for the crypto market: 'promises' may just be a marketing performance, and the real risks are always hidden in the invisible operational details.
