decrypt.co
A stablecoin issued by the Trump family’s crypto company briefly slipped from its dollar peg Monday, after a series of events the company later claimed to be “manufactured chaos.”
At roughly 8:15 am ET on Monday morning, the stablecoin, $USD1, fell from a trading value of 0.9990 $USDT, down to 0.9802 $USDT on Binance, the popular crypto exchange. Other sites, including price aggregator CoinGecko, showed the slip as smaller, to $0.994.
Within 30 minutes of the incident, the token rose again to full parity with $USDT, the world’s top dollar-pegged stablecoin. It has since remained at that price.
A coordinated attack was launched against $USD1 this morning. Attackers hacked several $WLFI cofounder accounts, paid influencers to spread FUD, and opened massive $WLFI shorts to profit from the manufactured chaos.
It didn’t work.
Thanks to $USD1’s sound mint-and-redeem mechanism…
— $WLFI (@worldlibertyfi) February 23, 2026
$USD1 is issued by World Liberty Financial, the Trump family’s crypto company. It is currently the fifth-largest stablecoin in the world, with a market capitalization of $4.93 billion.
Around the same time that $USD1 briefly fell below a dollar, World Liberty’s native token, $WLFI, abruptly dropped roughly 7%, from $0.117 to $0.109. The token has since partially made up those losses by climbing up to $0.113 at writing.
World Liberty soon thereafter announced that the company had been the subject of a “coordinated attack” that involved the hacking of company co-founders’ X accounts, “paid influencers” spreading negative information about World Liberty online, and massive short positions opened against $WLFI to “profit from the manufactured chaos.”
“World Liberty’s elite engineering and security teams today successfully repelled a coordinated attack from multiple vectors,” a company spokesperson told Decrypt. “Hackers and paid-disinformation campaigns attempted to undermine trust in $WLFI, but their battle-tested infrastructure and systems operated exactly as they should.”
Decrypt could not independently verify any posts made to the X accounts of World Liberty’s co-founders that appeared to be written by hackers. The World Liberty spokesperson did not immediately respond when asked if the company has identified any alleged hackers.