WLFI Token Holders Under Fire: How Hackers Are Draining Wallets at Scale Post-Launch

World Liberty Financial (WLFI) has been riding massive hype since its September 1st launch, but attackers are moving fast. Security experts from SlowMist have flagged large-scale phishing campaigns specifically targeting WLFI holders, and the attack vector is particularly nasty—exploiting Ethereum’s newest wallet features.

The Tech Behind the Chaos

Here’s where it gets technical. With Ethereum’s latest Pectra upgrade came EIP-7702, a feature that lets regular wallets behave like smart contracts. Sounds cool in theory, but scammers found the exploit: if they compromise your private key, they can inject a malicious delegate contract into your wallet. Once embedded, the contract silently executes whenever you make a transaction, automatically draining your tokens.

The genius (for them) is automation. Unlike old-school phishing where hackers manually monitor and steal from individual wallets, delegate contracts can be set to auto-execute. Want WLFI from an airdrop? The malicious code grabs it first. This scales the attack exponentially—attackers don’t need to babysit each compromised wallet anymore.

Real Victims, Real Losses

Phishing remains the entry point. Scammers use classic tricks: fake websites, malicious links, social engineering. Once they get your private key, the delegate mechanism takes over. One documented case shows just how brutal this gets: a user who’d already bought WLFI tokens received airdrops of fake WLFI. They eventually purchased what looked like legitimate tokens on Phantom Swap—except it was counterfeit. Final damage: $4,876 gone.

And WLFI isn’t the only target. Attackers have weaponized fake token schemes and honeypot tactics at a postal scale, flooding the market with fraudulent alternatives. The combination is lethal: exploit the hype, inject malicious code, wait for the victim to transact.

What You Need to Do

Never click suspicious links, especially during token launches. Double-check contract addresses before approving transactions. Be wary of unexpected airdrops. And if you’re holding WLFI—monitor your wallet activity closely. The 24-hour trading volume sitting around $3.52M shows legitimate demand, but it also means the target on WLFI holders’ backs is huge.

Ethereum’s innovations are powerful, but they also created new attack surfaces. Until users get better at wallet hygiene, phishing campaigns will keep working at scale.