Key Highlights
- World Liberty Financial (WLFI) token has soared over 7% on the daily chart, surprising the crypto community
- According to on-chain data, the Trump family-linked has resumed its WLFI token buybacks after a two-month suspension
- The surge in the token comes after whales took charge and started accumulating WLFI tokens
A decentralized platform linked to the U.S. President Trump’s family, World Liberty Financial’s native token WLFI, has soared by 6% on a daily chart, becoming an exception in the current dip in the crypto market.
At the time of writing this, WLFI is trading at around $0.1640 with an impressive market capitalization of $4.37 billion, according to CoinMarketCap.
According to on-chain data, World Liberty Financial has officially resumed its WLFI token buybacks after a two-month suspension. The pause comes after the phishing attack on WLFI holders in September.
On-chain data confirms that a strategic reserve wallet controlled by the project has initiated a new $11 million buyback order, using a Time-Weighted Average Price (TWAP) strategy on the CowSwap protocol. The automated system has so far deployed $1.2 million, executing purchases of $131,000 at 5-minute intervals, with nearly $10 million of the total allocation still pending.
The buyback is being funded by a specific $10 million allocation from the project’s substantial treasury, which holds over $860 million in assets.
WLFI Whale Keeps Buying Amid Market Dip
According to Lookonchain, one whale has set up a new wallet to buy 165.79 million WLFI at $0.1508 over the past 3 days after spending 25 million in USD1 stablecoin.
Similarly, another whale has withdrawn 47.18M WLFI, worth $6.95 million.
This accumulation of WLFI tokens is quite surprising as the entire cryptocurrency market is currently witnessing downward momentum. The intense liquidation triggered on October 10 after Trump announced a 100% tariff on China has wiped out billions of dollars of crypto investments, sparking panic-selling in the digital asset sector.
Major cryptocurrencies like Bitcoin and Ether have also dropped significantly. After so long, Bitcoin has plunged below $81,000, while Ether slipped below $3,000. However, in the last few days, the cryptocurrency market has witnessed a slight recovery. At present, Bitcoin and Ether are trading at around $87,671.39 and $2,966.72, respectively.
Recently, World Liberty Financial has officially announced its investment in the meme token SPSC. In the post on X, the WLFI team writes, “Buying $SPSC because the trenches finally found religion in USD1 memes. If they’re gonna make a coin in honor of our WLFI Co-Founder… we’re in.”
World Liberty Financial Investor Confidence Remains Strong Despite Phishing Scam
On November 20, World Liberty Financial (WLFI) confirmed a security incident on its platform, where its users suffered phishing attacks during the token’s official launch.
In the official statement, World Liberty Financial has disclosed that a relatively small subset of wallets were compromised after users fell victim to phishing scams and inadvertently exposed their private seed phrases.
However, World Liberty Financial clarified that these breaches were not due to any flaw in its own smart contract code, but were instead linked to third-party issues. These included fraudulent websites, which were impersonating the official WLFI platform.
“This was not a WLFI platform or smart contract issue. Attackers gained access to user wallets through third-party security lapses. In September, we froze impacted wallets and verified ownership to ensure a smooth transition,” stated in the post.
In response to this attack, WLFI executed an emergency token burn, permanently destroying 166.667 million WLFI tokens, valued at approximately $22.1 million.
The project then reallocated an equivalent value of funds to the verified, legitimate addresses of the affected users after conducting Know-Your-Customer (KYC) verification. Wallets that could not be verified remain permanently frozen, and their owners have been directed to contact the project’s help center.
“Reallocation will begin shortly for all wallets that completed and satisfied the required verification steps. Wallets for users who haven’t reached out or completed verification will remain frozen — those users can still start the process through our help center,” stated in the post on X.
Source: https://www.cryptonewsz.com/world-liberty-financial-wlfi-7-as-buyback/
