WLFI says it thwarted coordinated attack on its USD1 stablecoin

World Liberty Financial (WLFI) stated that a coordinated attack targeting its stablecoin, USD1, has failed. According to WLFI, the attackers hacked the accounts of several co-founders and paid influencers to spread fear, uncertainty, and doubt (FUD). They also took large short positions on WLFI, attempting to profit from the manufactured chaos. WLFI explained that the attack was unsuccessful due to USD1's robust mint-and-redeem mechanism and its 1:1 fully collateralized assets, which have kept its price stable at $1. The company added that no "fraudster" could shake the long-term commitment of its team and co-founders to USD1.