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Tensions are escalating between World Liberty Financial ($WLFI) and Justin Sun. The company has responded harshly to Sun’s serious accusations, claiming the allegations are “baseless” and announcing it will take the matter to court.
In a statement, $WLFI alleged that Sun had previously made similar “false accusations by playing the victim.” The company signaled legal action with the statement, “We have the contracts, we have the evidence, the truth is on our side. We’ll see you in court.”
The tension between the parties began with Sun’s recent statements. Sun claimed that the $WLFI token contract contains a “backdoor blacklist” mechanism that allows for the freezing of investor assets, and that his own wallet was blacklisted in this way in 2025.
On the other hand, on-chain data reveals that Sun is one of the largest individual investors in the project. Sun, who reportedly invested approximately $75 million, is alleged to have had his account frozen just three days after the $WLFI token was scheduled to begin trading on September 1, 2025.
According to the data, approximately 60 million $WLFI tokens (worth about $12 million) were transferred from the HTX hot wallet to a Binance investment address. Following this transfer, the token price reportedly dropped by 16% to 24% within the same day, while $WLFI claims the price drop began before the transfer. Sun, meanwhile, denies the allegations of selling.
Following these developments, significant losses have been observed in the project. It is reported that approximately 545 million unlocked $WLFI tokens have been frozen, and an additional 2.4 billion locked tokens have been affected by the process. This is estimated to have resulted in a loss of approximately $70 million.
According to market data, the $WLFI token is currently trading at $0.08. This level represents a value loss of approximately 75% compared to its peak of $0.33 seen in September 2025.
*This is not investment advice.