Around 80% of the top 10 largest holders of World Liberty Financial’s WLFI token took profits within a day of the asset’s launch.
Meanwhile, other top holders acted more decisively during the reporting period.
The sixth-largest wallet, tied to convexcuck.eth, sold $3.8 million worth of tokens through Whales Market to 36 separate buyers.
Additionally, several additional wallets ranked among the top ten sent their holdings directly to centralized exchanges minutes after WLFI began trading on Sept. 1.
While early selling has weighed on WLFI’s market momentum, blockchain security specialists are warning of a rising phishing threat targeting the token holders.
Xian cited the example of one WLFI wallet that was drained across multiple addresses after attackers deployed a malicious contract tied to Ethereum’s 7702 delegate function.
According to the Slowmist founder, once a private key is compromised, the exploit allows the hacker to pre-plant a delegate address that siphons away all assets, including ETH meant for gas fees, leaving the victim with nothing.
