World Liberty Claims Coordinated Attack Targeted USD1 Stablecoin

[cryptoenthusiast]

World Liberty Financial, the crypto company backed by US President Donald Trump and his sons, says it was targeted in a coordinated effort involving hackers, short sellers and paid influencers aimed at destabilizing its USD1 stablecoin.

In a post on X, the company said attackers compromised “several WLFI cofounder accounts,” opened large short positions against its WLFI token and paid influencers to spread fear, uncertainty and doubt (FUD).

WLFI’s token price reportedly dipped about 7% during the incident, while USD1 briefly lost its dollar peg, falling to roughly $0.994 before recovering to near parity at $0.999. The company attributed the quick stabilization to USD1’s mint-and-redeem mechanism and full 1:1 backing.

World Liberty stated that the attack failed to cause lasting damage and reaffirmed its long-term commitment to maintaining the stablecoin’s peg.

[nihalsari]

usd1 dips half a cent and everyone discovers the concept of a bank run in real time