Friday, July 11, 2025
cryptonews100
No Result
View All Result
CryptoNews100
No Result
View All Result
Home World Liberty Financial

WLFI Co-Founder Sued Over Dough Hack Reimbursement

cryptonews100_tggfrn by cryptonews100_tggfrn
May 20, 2025
in World Liberty Financial
0
WLFI Co-Founder Sued Over Dough Hack Reimbursement
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
Sign up an get up to $1000 USDT!


Based on a brand new report, World Liberty Monetary (WLFI) co-founders Chase Herro and Zak Folkman didn’t reimburse purchasers of their final startup, Dough Finance, after a $2.5 million hack.

Herro is at the moment being sued by a Dough investor to recoup his misplaced property. World Liberty could also be a Trump household venture, however not one of the Trumps have something to do with this incident. Hopefully, this element will encourage a straightforward settlement.

WLFI Co-Founder Sued Over Dough Hack

The crypto trade has seen numerous world-famous hacking incidents, however minor ones can all of the sudden resurface in surprising methods.

At present, Reuters known as attention to a July 2024 breach towards Dough Finance that led to the lack of $2.5 million. The agency closed down shortly thereafter. After the hack, Dough’s co-founders went on to create WLFI, however traders stay at a loss:

“YOU—the Dough Finance group—have handed the governance vote to make token holders complete! Handed with 99.5% assist. Thanks for making your voices heard. The group is now engaged on fund distribution—keep tuned for updates!” Dough posted one month after the hack. This was its final public assertion, remaining silent ever since.

Shortly after the hack, Dough’s group acknowledged their errors, which enabled the theft to happen. They recovered $280,000, $180,000 of which had been apparently delivered to former collectors.

Nonetheless, since Dough’s co-founders went on to create WLFI with Zack Witkoff, there haven’t been any new developments.

Of Donald Trump’s various crypto projects, World Liberty Monetary is at the moment attracting probably the most buzz. Between major partnerships and political controversies, Herro and Folkman’s new endeavor is making headlines and a few critical earnings.

No matter private opinions, the enterprise has actually been a significant success.

Why, then, haven’t WLFI’s co-founders repaid their former backers at Dough? Final Friday, World Liberty invested $3 million in EOS tokens, a determine that exceeds the losses from the hack.

WLFI’s USD1 has a market cap of over $2 billion; a $2.5 million reimbursement is virtually spare change subsequent to that. What’s the holdup?

That query is on the middle of a lawsuit filed by a former Dough investor towards WLFI founder Chase Herro. Reuters claims that the plaintiff, Jonathan Lopez, is just focusing on Herro, not Folkman or WLFI as a complete.

Because the July 2024 hack, customers have primarily obtained reimbursements in DOUGH tokens, that are virtually nugatory in 2025:

Dough Finance Total Value Locked
Dough Finance Complete Worth Locked. Supply: DefiLlama

At the moment, the swimsuit’s trial date will not be scheduled till April 2026. Hopefully, the WLFI co-founders will attain a settlement with Dough’s collectors earlier than that occurs.

No matter occurs, WLFI could also be a Trump household venture, however not one of the Trumps have any connection to or duty for this incident. This may increasingly encourage Herro and Folkman to resolve the difficulty simply.

Disclaimer

In adherence to the Trust Project pointers, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to supply correct, well timed info. Nonetheless, readers are suggested to confirm info independently and seek the advice of with knowledgeable earlier than making any choices based mostly on this content material. Please be aware that our Terms and Conditions, Privacy Policy, and Disclaimers have been up to date.



Source link

Related articles

Is the Crypto Bubble About to Pop?

Is the Crypto Bubble About to Pop?

July 11, 2025
World Liberty Financial Votes on WLFI Token Trading Launch

World Liberty Financial Votes on WLFI Token Trading Launch

July 11, 2025
Tags: CofounderDoughhackreimbursementSuedWLFI
Share76Tweet47
Drive and walk to earn crypto!

Related Posts

Is the Crypto Bubble About to Pop?

Is the Crypto Bubble About to Pop?

by cryptonews100_tggfrn
July 11, 2025
0

In the crypto market, all lights seem to be flashing inexperienced proper now. New crypto market laws is on the...

World Liberty Financial Votes on WLFI Token Trading Launch

World Liberty Financial Votes on WLFI Token Trading Launch

by cryptonews100_tggfrn
July 11, 2025
0

10 The World Liberty Financial (WLFI) platform, related to the household of U.S. President Donald Trump, has formally initiated a...

Chelsea’s financial status makes Club World Cup Final at MetLife Stadium vs. PSG all the more imporant

Chelsea’s financial status makes Club World Cup Final at MetLife Stadium vs. PSG all the more imporant

by cryptonews100_tggfrn
July 10, 2025
0

Soccer Soccer – FIFA Club World Cup – Semi Final – Fluminense v Chelsea – MetLife Stadium, East Rutherford, New...

Experts Bullish On $5 Price Projection Post-Launch

by cryptonews100_tggfrn
July 10, 2025
0

World Liberty Monetary, a decentralized finance (DeFi) platform backed by President Donald Trump and his household, is poised to launch...

Justin Sun’s $100M TRUMP Buy Aims to Make the Presidential Meme Coin a Global

Justin Sun’s $100M TRUMP Buy Aims to Make the Presidential Meme Coin a Global

by cryptonews100_tggfrn
July 10, 2025
0

Justin Sun’s $100 million TRUMP token purchase alerts a strategic alignment with the U.S. administration’s pro-crypto stance and marks the...

Load More

Crypto Fear & Greed Index

Latest Crypto Fear & Greed Index

Recent News

Sui (SUI) Price: Grayscale Report Fuels 11% Rally as Charts Flash Bullish Signals

Sui (SUI) Price: Grayscale Report Fuels 11% Rally as Charts Flash Bullish Signals

July 11, 2025
Is the Crypto Bubble About to Pop?

Is the Crypto Bubble About to Pop?

July 11, 2025
World’s largest cryptocurrency reaches another record high

World’s largest cryptocurrency reaches another record high

July 11, 2025

Categories

  • Bitcoin
  • Cardano
  • Chainlink
  • Cryptocurrency
  • Dogecoin
  • Elon Musk
  • Ethereum
  • Exchanges
  • Litecoin
  • Pokadot
  • Polygon
  • Real World Assets
  • Shiba Inu
  • Solana
  • sui
  • World Liberty Financial
  • XRP

Download the official CryptoNews100 Android App! Click the button below:

Tags

ADA (119) Bitcoin (467) BlockDAG (74) BTC (147) bullish (75) Buy (154) Cardano (197) ChainLink (147) coin (71) crypto (542) Cryptocurrency (186) Detail (98) DOGE (103) Dogecoin (184) ETF (122) ETH (126) Ethereum (267) flash (99) Inu (140) key (73) launches (85) Link (71) market (145) million (74) News (279) Polkadot (97) POLYGON (98) prediction (87) Presale (72) price (404) rally (88) RWA (93) SHIB (83) Shiba (148) SOL (93) Solana (251) Sui (155) Surge (78) today (70) token (80) top (134) trading (74) TradingView (78) Trump (117) XRP (336)

© 2023 Crypto News100 All Rights Reserved.
By visiting this website, you understand that the content provided within is for educational and entertainment purposes only. Nothing on this site may be constituted as financial advice and this site is not directing you to make any investments in cryptocurrency or in anything else. Thank you for visiting and please proceed responsibly.
As an Amazon Associate I earn from qualifying purchases.

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Alt Coins
    • Cardano
    • Dogecoin
    • Litecoin
    • Pokadot
    • Polygon
    • Shiba Inu
    • Solana
    • XRP
  • Crypto Related DEALS

© 2023 Crypto News100 All Rights Reserved.
By visiting this website, you understand that the content provided within is for educational and entertainment purposes only. Nothing on this site may be constituted as financial advice and this site is not directing you to make any investments in cryptocurrency or in anything else. Thank you for visiting and please proceed responsibly.
As an Amazon Associate I earn from qualifying purchases.