Trump's DeFi Project Raises Concerns over Technical Security
CryptoNewsTerminal Staff17 Sep, 2024
Trump's DeFi Project Raises Concerns over Technical Security
Trump's recently launched DeFi protocol, World Liberty Financial, has come under scrutiny over potential technical vulnerabilities. According to Coindesk, concerns have been raised about the initial allocation of 70% of tokens to insiders, which was later reduced to 20% following criticism. While 63% of the tokens are now available for public sale, the involvement of Chase Hero in the design process has raised further questions. Chase Hero is a controversial figure in the crypto community, with evidence suggesting that the codebase for World Liberty Financial was copied from Dou Finance, a project that lost $1.8 million in a flash attack in July. Although the technical development has reportedly been outsourced to a third party, these concerns have cast doubt on the platform's security and raised fears of potential hacking attempts.
