U.S. President Donald Trump-backed World Liberty Financial (WLF) has alerted its community about a “coordinated attack” targeting its USD1 stablecoin. For a brief timeframe, the USD1 stablecoin lost its USD peg and dropped to $0.994 after which the WLF claimed the attack on its stablecoin ecosystem.
“Attackers hacked several WLFI cofounder accounts, paid influencers to spread FUD, and opened massive $WLFI shorts to profit from the manufactured chaos,” the official X handle of WLFI informed its 782,000 followers on Monday. “No scammer can shake the long-term commitment of the entire WLFI team and cofounders to USD1.”
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
While WLF claimed that the USD1 token was back to trading at 1:1 ratio with the U.S. dollar, statistics showed otherwise at the time of writing on Tuesday. The token has been showing minor fluctuations consistently.
The USD1, at the time of writing, was trading at $0.9989, data by CoinMarketCap showed.
Source: CoinMarketCap
Eric Trump, who is one of the WLF’s co-founders, did not directly address the attack situation. Instead, he posted a tweet praising what the USD1 has accomplished since being launched in March 2025.
In the backdrop of USD1’s de-pegging, World Liberty Financial’s native WLFI token also recorded an eight percent drop. At present, the WLFI token is trading at $0.1067, reflecting a drop of six percent.
Source: CoinMarketCap
Interestingly, the claimed attack on the USD1 stablecoin along with the drop in the WLFI token comes just days after the media reported that President Trump and First Lady Melania Trump’s memecoins have left investors with losses mounting to $4.3 billion.
The sequence of events have opened floodgates of discussions on social media where some are alleging that Trump family’s crypto initiatives are scammy and the others warning community members against engaging too much with politically-themed memecoins.