Coordinated Attack on WLFI USD1 Stablecoin
The cryptocurrency company World Liberty Financial (WLFI), backed by Donald Trump and his sons, announced that it was affected by an attack carried out by hackers, paid influencers, and short sellers against its USD1 stablecoin. In a statement shared on the X platform on Monday, it was stated that early this morning, WLFI founder accounts were targeted, large short positions were opened, and FUD was spread. According to the latest update from the WLFI X account, the USD1 pair experienced a sharp drop to 0,9924 dollars in the last hour. Due to the attack, the WLFI token price fell approximately 7% to 0,1128 dollars, and is currently trading at 0,11 dollars (24h: -1,50%). The USD1 stablecoin fell to 0,994 dollars, temporarily losing its dollar peg, then recovered to 0,999 dollars. WLFI emphasized that USD1 remained stable thanks to its robust mint-and-redeem mechanism and full 1:1 backing. Click for detailed WLFI analysis.
Source: World Liberty Financial
Developments After Trump WLFI Forum
The attack occurred days after the WLFI crypto forum held at Trump’s Mar-a-Lago resort in Florida. The forum featured speakers from the US government, crypto and banking sectors, as well as former Binance CEO Changpeng Zhao. According to Forbes, Binance holds approximately 87% of the circulating USD1 (worth 4,7 billion dollars). Connections between WLFI and Binance are being investigated by US congressmen following Trump’s pardon of Zhao. Bloomberg and The Wall Street Journal reported that Binance created USD1.
WLFI Technical Outlook and Support/Resistance Levels
WLFI is in a downtrend, RSI 41,97 (neutral), Supertrend bearish, EMA20: 0,1173.
- Supports: S1 0,0961 (strong, -14%), S2 0,1068 (-4,5%)
- Resistances: R1 0,1434 (+28%), R2 0,1173 (+5%)
For short-term recovery, R2 must be broken. Check WLFI futures. WLFI spot analysis.
Source: https://en.coinotag.com/wlfi-usd1-attack-hackers-and-price-drop
