WLFI Investigates Potential Token Manipulation Amid Price Fluctuations

According to BlockBeats, WLFI's Growth Director Ryan Fang expressed concerns about potential price manipulation by large token holders during an interview on Thursday evening. Fang suggested that some centralized trading platforms might be attracting user tokens and transferring them to other platforms for sale, potentially to lock in profits. He emphasized that the WLFI team is still exploring this issue and believes there is a possibility of such activities occurring. Fang noted that community members have alerted the team to possible systemic manipulation, which could have caused significant damage in recent days. However, he acknowledged that the team lacks detailed evidence at this time. On Thursday evening, the price of WLFI tokens hit a recent low of $0.1611 but has since rebounded to $0.2237. Early Friday, World Liberty blacklisted Justin Sun's address, freezing 540 million unlocked tokens and 2.4 billion locked tokens. The organization suspects that a trading platform has been using user tokens to sell off and suppress prices. Over the past week, WLFI has blacklisted 272 addresses, with on-chain records indicating some were part of a bulk operation. On Saturday, WLFI stated that the blacklisting was to protect user assets and assured that accounts would not be banned for normal market participation.