🚨 WLFI vs Justin Sun — What’s Happening?
Big drama in crypto right now.
Justin Sun says WLFI has a hidden backdoor that can freeze user funds.
WLFI denies it and says his claims are fake.
Meanwhile 👇
WLFI used 5B of its own tokens as collateral to borrow $75M, then sent funds to Coinbase.
This pushed the platform to near 100% utilization, making withdrawals hard.
📉 Result:
Token crashed heavily (around -80%).
⚠️ Simple takeaway:
Too much control + risky borrowing = trust issues + price crash.
#crypto #defi #news #DYOR #jeevajvan
Big drama in crypto right now.
Justin Sun says WLFI has a hidden backdoor that can freeze user funds.
WLFI denies it and says his claims are fake.
Meanwhile 👇
WLFI used 5B of its own tokens as collateral to borrow $75M, then sent funds to Coinbase.
This pushed the platform to near 100% utilization, making withdrawals hard.
📉 Result:
Token crashed heavily (around -80%).
⚠️ Simple takeaway:
Too much control + risky borrowing = trust issues + price crash.
#crypto #defi #news #DYOR #jeevajvan