Approximately 80% of the top 10 largest holders of World Liberty Financial’s WLFI -Token took profit within one day after the active launch.
Pseudonymous Blockchain analyst Aixpta on 2 September reported Those eight of the top ten WLFI holders had sold their positions partially or in full. According to the analysis, only the second and fifth largest portfolios still have to move their tokens.
For context, Blockchain researcher Ember CN had stated That active biggest holder of WLFI, Moonmanifest.eth, has unlocked 200 million WLFI, worth almost $ 59.5 million, before he sells 10 million tokens for $ 2.1 million for $ 0.21 each five hours later.
In the meantime, other top holders acted more decisively during the reporting period.
The sixth largest wallet, bound to convexcuck.eth, sold for $ 3.8 million in tokens via whale market to 36 separate buyers.
In addition, several extra portfolios sent their participations directly to centralized exchanges minutes to the top ten after WLFI started acting on 1 September.
This rapid sale suggests that early investors have quickly moved to obtain profit, even when the project was confronted with increasing volatility during the first trading day.
Phishing threats arise
Although early sale has weighed at the market momentum of WLFI, blockchain security specialists warn a rising phishing threat aimed at the token holders.
In recent days, Yu Xian, founder of Slowmist, has repeatedly warned From phishing attacks that operate the new EIP-7702 standards of Ethereum and are aimed at WLFI-Toks requirers.
Xian quoted the example of one WLFI wallet that had been removed over several addresses after attackers had used a malignant contract, coupled to the 7702 delegate function of Ethereum.
According to the Slowmist founder, as soon as a private key is affected, the exploit enables the hacker to plant a delegated address in advance that brings all assets away, including ETH intended for gas costs, so that the victim leaves nothing behind.
Meanwhile, Xian noted Those holders can still defend themselves against the exploit by walking in the front. This includes paying gas to ignore the malignant delegate contract, to replace it with a safe and moving tokens in the same block with flash bots.
