Trump-linked World Liberty Financial reports coordinated attack on USD1 stablecoin peg

World Liberty Financial, the crypto project linked to Donald Trump and his family, reported on February 23 a coordinated attack on its USD1 stablecoin that briefly pushed it below its $1 peg. The team said attackers allegedly hacked several co-founder accounts, paid influencers to spread fear, and opened large short positions in WLFI to profit from volatility, but USD1 later rebounded to trade back near par. WLFI emphasized that USD1 remains fully backed by cash, U.S. Treasuries, and government money market funds held with BitGo and supported by a transparent mint-and-redeem mechanism.