According to PANews, WLFI announced that prior to the platform's official launch, some user wallets were compromised due to phishing attacks or mnemonic phrase leaks. The team emphasized that the incident was not caused by platform or contract vulnerabilities but by third-party security issues. A new contract logic has been developed to reallocate assets to secure new wallets after KYC verification. Wallets that do not submit applications or fail verification will remain frozen, and users can still initiate a recovery process through the customer service center. According to Emmett Gallic, World Liberty Fi burned 166.67 million WLFI tokens (worth approximately $22.14 million) from a suspected compromised wallet and reallocated an equivalent amount to new secure addresses.
WLFI to Reallocate Funds for Users Affected by Phishing Attacks
PANewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.