WLFI: There may be a CEX transferring users' WLFI and selling it off, the team is conducting an investigation

ChainCatcher news, WLFI Growth Director Ryan Fang stated in an interview on Thursday evening, "The WLFI team believes that some large token holders may have manipulated the price, essentially to lock in profits. The WLFI team is convinced that in a world where a centralized exchange holds a large amount of user funds, certain exchanges could potentially attract user tokens and actually send user tokens (referring to WLFI tokens) to other exchanges for sale. To reiterate, we are still exploring and discovering this issue and believe that the aforementioned situation has a certain possibility of occurring. Now imagine, suppose a large exchange holds a significant amount of user assets and transfers a large amount of user assets to other exchanges that may have better liquidity while opening very large short positions; this is a possibility."

"In fact, on Thursday, some community members were continuously notifying the team that they believe what I just mentioned could happen, which would be a massive systemic manipulation. The WLFI team will investigate and believes that significant damage may have already occurred in the past few days, but similarly, the team does not yet have detailed evidence regarding this information."

On Thursday evening, the price of WLFI tokens hit a recent low of $0.1611 and has now rebounded to $0.2237;

WLFI blacklisted 272 addresses in the past week, with on-chain records indicating that some were part of a bulk blacklisting operation. WLFI stated on Saturday that blacklisting 272 addresses was to protect user asset security and that accounts would never be banned for normal market participation.