Pectra Exploit Hits WLFI Wallets After Token Unlock
The Pectra exploit has compromised around 100 WLFI wallets just as the World Liberty Fi token unlocked across 83,000 addresses. Exploiters leveraged Ethereum’s Pectra EIP-7702 upgrade to gain smart contract approvals via phishing, draining funds from unsuspecting holders. Although the WLFI contract remains secure, private key compromises enabled attackers to sweep tokens. SlowMist tracked the exploits and published a list of affected addresses to warn users.
Following the token unlock, WLFI experienced heavy selling pressure from whale holders, including rapid profit-taking and derivative shorts on low-liquidity DEX pairs. The token’s price plunged to $0.21 before stabilizing around $0.25. On Hyperliquid, 12 of 19 whales held short positions, raising the risk of price manipulation to trigger liquidations. Market participants are advised to monitor Pectra exploit warnings and wallet approvals closely to avoid further losses.
Bearish
The news is bearish because the Pectra exploit undermines confidence in WLFI and Ethereum wallet security, leading to direct token losses and heightened selling pressure. Similar past events, such as token distribution hacks and phishing scams, triggered immediate sell-offs and price drops. The combination of compromised wallets and aggressive whale profit-taking—alongside derivative short positions—exacerbates downward momentum. In the short term, WLFI is likely to face volatility as traders react to exploit warnings and potential further drains. Over the long term, investors may demand stronger security measures or avoid tokens reliant on Pectra smart wallet approvals, dampening market enthusiasm and liquidity for WLFI and related projects.