World Liberty Blacklists Justin Sun-Linked Address, Freezing Nearly 3 Billion Tokens
Justin Sun reportedly moved $9 million in WLFI tokens to HTX after his address was blacklisted by World Liberty, which froze billions of tokens amid price suppression allegations.
Summary
Blockchain analytics platform Bubblemaps reported that Justin Sun transferred $9 million worth of unlocked WLFI tokens to HTX, adding to $10 million sent to centralized exchanges in the past three days. World Liberty earlier blacklisted his address, freezing 540 million unlocked tokens and 2.4 billion locked tokens, accusing an exchange of using user tokens to depress WLFI’s price.
Terms & Concepts
- Blacklist: A feature in a smart contract that prevents specified cryptocurrency addresses from interacting with it, often used for security or compliance reasons.
- Locked Tokens: Cryptocurrency tokens that are restricted from being transferred or sold for a specific period, typically as part of a vesting schedule or tokenomic model.
- WLFI: World Liberty Financial’s native cryptocurrency token, which can be unlocked or locked depending on vesting and contractual conditions.