World Liberty Financial (WLFI) faced a security breach from phishing and exposed seed phrases before its platform launch, impacting a small number of user wallets. To protect users, WLFI froze the affected wallets and began a Know Your Customer (KYC) re-verification process. The platform developed new smart contract logic to securely migrate funds to new wallets. WLFI emphasized that the breach resulted from third-party security issues, not flaws in their platform, and will reallocate funds only to users who complete verification.
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