2025-12-23 17:20:15

A well-known encryption investor's Decentralized Finance dream has shattered.

The main character this time is the WLFI project—a DeFi protocol that has received endorsements from political figures. Investors not only announced plans to purchase related tokens worth $100 million, but also poured in a real $75 million. Logically speaking, such a major investor should be enjoying the best.

Reality is harsh. In September, investors transferred out 9 million tokens, but the address was directly frozen by the project team and added to the blacklist. Those tokens have since been unable to move.

According to information from a blockchain data tracking platform, this address is still on the blacklist. What’s more heartbreaking is that in the past three months, this locked asset has shrunk by about $60 million. The initial investment of $75 million now only has a fraction left.

This reflects a real problem in the DeFi market: even large investors cannot be immune to project governance risks. The operation of "collecting money and then blacklisting" seems absurd, but it has actually happened. The project party holds the contract authority, and the investors' funds become like meat on the chopping block.

The market reaction is tepid. WLFI rose slightly by 0.37%, while related tokens fell by 1.95%.

This case teaches the market a lesson: no matter how strong the project background or how large the investment scale, the importance of diversified investment and controlling individual positions always comes first. In the cryptocurrency world, liquidity risk and smart contract permission risk are always worth being vigilant about. Neither scale nor popularity can change this.

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GateUser-a180694b

· 15h ago

Wow, can political endorsements also pump? This crypto world really dares to play with anything.

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On-ChainDiver

· 21h ago

Political endorsements won't save it, this is the reality of the crypto world.

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SchrodingerPrivateKey

· 21h ago

Wow, 75 million dollars just vanished, this is what you call a "rug pull" --- Political endorsements? Sorry, in the crypto world, this stuff isn’t worth anything, contract permissions are everything --- No wonder I always say don’t go all in on a single project, this guy’s bloody lesson --- 900,000 coins locked in the blacklist, I just want to ask the WLFI developers if they can sleep well at night --- 60 million shrunk... now I understand, Large Investors can’t escape permission risks either, we small investors need to be even more careful --- It’s hilarious to see the market react so mildly, only a 1.95% drop? People in the crypto world have really tough skin --- Remember this name WLFI, if they launch a new project in the future, I really won’t touch it --- Laughing to death, what’s the use of a strong endorsement, once the contract freezes it’s all useless, on-chain is this cruel --- This is why I diversify my Holdings, no matter how good a project looks, I won’t bet my life savings on it --- 75 million went in, and only a small amount came out, how desperate must that be, the crypto world is truly full of rich but foolish people.

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