Justin Sun declared, "I am the biggest victim of WLFI," listing four major accusations: backdoors in smart contracts, illegal freezing of wallets…

Today (12th), a satirical article by someone claiming to be a "WLFI Web3 Ambassador" (written by Peter Girnus, who is known for using virtual identities to criticize current events) sparked heated discussions in the crypto community, with many criticizing the project's various forms of vested interests. This prompted WLFI co-founder Zach Witkoff to personally refute the article.

But just as this public opinion storm was about to subside, TRON founder Justin Sun also posted an article this afternoon directly attacking WLFI, claiming that he was the biggest victim of the losses.

Allegations that smart contracts contain backdoors: unilateral freezing and confiscation of tokens.

Justin Sun claims to have discovered a "backdoor blacklist function" in the smart contract used by the official WLFI token deployment team that has never been disclosed to investors. According to his description, this function grants WLFI unilateral and absolute power to freeze, restrict, or even effectively confiscate the property rights of any token holder without notice, justification, or any remedy.

Justin Sun characterized this feature in two sentences: "This is the opposite of decentralization. This is a trap disguised as a door."

He also claimed that he had become a direct victim of this mechanism as early as 2025, when his WLFI token wallet was illegally blacklisted without any due process, "violating basic investor rights and the fair principles of blockchain."

The four specific allegations are: fees, backdoors, asset freezes, and manipulation of governance.

In his announcement, he categorized the WLFI team's misconduct into four types:

First, exploitative practices : charging unreasonable fees based on the user's interests.

Second, backdoor control : a backdoor is secretly implanted in the contract to control the user's assets without disclosure.

Third, freezing funds : freezing investor funds without due process.

Fourth, manipulate governance : manipulate governance voting in an unfair and opaque manner, conceal key information from voters, restrict substantive participation, and "predetermine the outcome in advance".

He stated bluntly that the governance votes cited to justify these actions "do not represent the will of the community, but the will of those who designed them." Finally, Sun called on WLFI to unlock its tokens and restore transparency to the community.

WLFI continues to be controversial

World Liberty Financial is a decentralized finance (DeFi) project closely associated with the Trump family, with the vision of "making decentralized finance accessible to ordinary people" and issuing the WLFI token and the USD1 stablecoin pegged to the US dollar.

Backed by Trump's immense influence, the project attracted a large influx of funding in its early stages, with Justin Sun being one of the largest early investors. However, the project has been fraught with controversy since its inception.

For example, as a project of the current president's family, its acquisitions (such as the investment by a UAE fund) have been questioned as channels for foreign influence, raising serious political and ethical concerns. Secondly, its token distribution is highly concentrated among insiders, and the early lock-up period results in extremely poor liquidity.

The core controversy lies in the fact that the project has been criticized for using White House power to promote regulatory privileges, deviating from the decentralized spirit of Web3, and resembling more of a political monetization disguised as finance.