The distribution of World Liberty Finance (WLFI) tokens, which we previously reported on, is once again in the spotlight. New data shows that the exploitation of the Pectra update (EIP-7702) has a broader impact than initially thought – and the market is reacting with sharp moves.
New Findings: Compromised Wallets
According to on-chain analysts, around 100 wallets have been affected so far, with risks of draining not only WLFI but also other assets. A list of compromised addresses has been published to warn users against interacting with suspicious protocols.
The timing makes the situation even more dangerous – wallets prepared for WLFI distribution were reportedly set up for attack even before the token unlock, significantly increasing the risk of losses.
Whales and Derivatives Add More Pressure
WLFI’s price is also under pressure from major holders. Following the unlock, there were heavy sell-offs – the token briefly spiked above $0.31 before dropping to around $0.25.
Meanwhile, derivatives markets are amplifying volatility. On Hyperliquid, 12 of 19 whales reportedly shorted WLFI. Some traders made millions – one prominent player reportedly profited over $45 million from WLFI short positions. This raises concerns that whales could manipulate the market in their favor.
What’s Next?
So far, the World Liberty Finance team has not responded to proposals such as freezing compromised funds or introducing new KYC verification for token re-issuance. Without clear intervention, WLFI remains caught in an environment of uncertainty and heightened volatility.
Summary
While we had previously reported on attacks linked to the exploitation of EIP-7702, the latest wave of information confirms that the impact is deeper: from compromised wallets to whale sell-offs and aggressive derivatives speculation. WLFI now faces the critical test of whether it can maintain investor confidence while under pressure on multiple fronts.
#WLFI , #Ethereum , #defi , #CryptoSecurity , #altcoins
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