💥 Is the Trump family’s USD1 stablecoin victim of a coordinated attack?

The World Liberty Financial project (WLFI), backed by the Trump family, claims to have been targeted by an organized attack against its USD1 stablecoin. Co-founders’ accounts were reportedly compromised, allowing the spread of misinformation and the opening of massive short positions on the WLFI token.
Despite this incident, the team assures that the infrastructure remained intact and that no smart contract or wallet was hacked. The observed depeg was minor and temporary 🪙.
However, user confidence is waning: USD1’s market cap dropped 5.2% in one day, from over $5 billion to $4.74 billion. The WLFI price also declined, down 6% over 24 hours 📉.
A trust crisis reminiscent of other recent episodes in the stablecoin market.
All the details on this incident and its consequences 👇