WLFI Blocks Hack Attempts as Token Launch Faces EIP 7702 Exploit Risks

Highlights:

• WLFI has blocked hack attempts as they tried to drain tokens from user wallets.
• WLFI blacklisted compromised wallets during launch and secured its Lockbox system from token theft attempts.
• Users have raised concerns over presale wallets, as compromised accounts lost tokens instantly to automated sweeper bots.

World Liberty Financial (WLFI), a decentralized finance project backed by Donald Trump, reported that it stopped hacking attempts during its token debut. A designated wallet conducted bulk blacklisting transactions before the launch, according to the team’s statement today. The move disabled accounts that were already compromised. WLFI explained that the incidents were caused by end-user issues such as private key theft.

🚨 JUST IN: WLFI blocked multiple theft attempts BEFORE launch by blacklisting compromised wallets onchain. 🔒💥
No protocol exploit — attackers used EIP-7702 phishing & clone contracts.
Result: Lockbox allocations SAFE. 🛡️#DeFi #Crypto #trump #bitcoin #btc #ethereum #eth pic.twitter.com/mj0jazeUtp

— PrincipeCripto (@PrincipeCripto) September 3, 2025

The project stressed that the security flaws were not due to a weakness in WLFI. Instead, attackers went after users whose private keys had already been leaked. This distinction was key for the team as they worked to reassure holders that the platform itself was secure.

One of the primary targets was the Lockbox system that protects locked token allocations. WLFI said the blacklist protected the lockbox by preventing attackers from gaining access. The project shared evidence of the blacklisting through transaction data published on Etherscan. At the same time, the team began helping affected users recover access to their wallets. This announcement came after WLFI unlocked 24.6 billion tokens on Monday. That event opened trading for the first time, and attempts to exploit users appeared almost immediately afterward.

WLFI Blocks Hack Attempts Linked to EIP-7702 Exploit

Security analysts said that some WLFI holders were victims of a phishing scheme tied to Ethereum’s EIP-7702 upgrade. Yu Xian, the founder of security company SlowMist, explained that attackers planted malicious delegate contracts in compromised wallets. When users attempted transactions, those contracts redirected tokens to hacker-controlled wallets.

又遇到一位玩家多个地址的 $WLFI 都被盗事件，看了下盗窃手法，又是 7702 delegate 恶意合约利用，前提也是私钥泄露，黑客在目标钱包地址上提前埋伏好恶意的 7702 delegate 地址，之后将目标地址所有 ETH 及价值 token（比如这里是 $WLFI）转走，一点渣渣都不剩，如果用户转入 ETH 当… https://t.co/YyVvMPwaGM

— Cos(余弦)😶‍🌫️ (@evilcos) September 1, 2025

The exploit relied on private key theft. Once hackers had access, they could prepare wallets with dangerous contracts before users noticed. As soon as deposits or transfers occurred, the funds disappeared. This method caused serious losses among token holders shortly after the launch.

The EIP-7702 feature enabled accounts that are externally owned to temporarily behave like smart contract wallets. The feature, which was part of the Pectra upgrade, tried to make it easier to use by providing batch transactions and delegated execution. However, security experts stated that the change also established a new attack vector. Xian said that the exploit only required an off-chain signature rather than an on-chain confirmation. This made the attack more dangerous, as users were frequently unaware. Many token holders have complained of losses on X, and Xian has stated that their cases fit the known phishing exploit.

User Reports Raise Concerns Over Token Distribution Security

In addition to technical risk, WLFI was confronted with concerns by its community over distribution practices. Several users complained that most of their tokens were not saved. A victim known as hakanemiratlas claimed they were able to salvage only a small portion of their WLFI before hackers drained the rest.

Meanwhile, the WLFI token is trading at $0.2293, an 8.24% loss in the past day. The coin hit a peak of $0.3214 on Monday before losing its rally. Crypto2community analysts predict that the coin may rally to $0.50 if major resistance is broken.