World Liberty Financial’s governance tokenholders are targeted by a phishing wallet exploit utilizing Ethereum’s EIP-7702 upgrade, allowing hackers to pre-plant a hacker-controlled address in victim wallets, resulting in token theft affecting WLFI holders. The WLFI token, backed by Donald Trump, began trading with a total supply of 24.66 billion tokens.

Hackers are exploiting the EIP-7702 upgrade to steal tokens from WLFI holders, with private key leakage being a prerequisite. Users are advised to cancel or replace the compromised EIP-7702 and transfer tokens from the compromised wallet to a secure one as a solution. Scammers are targeting token launch with fake smart contracts imitating established crypto projects.

Crypto users on WLFI forums report similar issues of wallet hacks and token theft, expressing concerns over the safety of their tokens. Scams related to the WLFI token launch have been identified, with the WLFI team warning users not to respond to fraudulent direct messages or emails claiming to be from them.

Read more at Coin Telegraph: WLFI Holders Targeted as Hackers Use Ethereum’s EIP-7702 Exploit