2025-12-24 12:22:33

A leading crypto investor faced a blow in front of everyone—his assets worth $75 million in a certain DeFi project were directly frozen due to the blacklist feature. In three months, $60 million vanished into thin air.

This is not just a financial loss but a direct hit to the entire decentralized world.

Analysis from on-chain data platforms makes it very clear: this investor poured huge amounts into the WLFI project but was precisely targeted because of the project's smart contract blacklist mechanism. No market fluctuations, no technical failures—just the project team pressing that "red button," and the assets were gone.

Where is the root of the problem? On the surface, it’s an isolated case, but fundamentally it exposes how centralized some DeFi projects really are. Those claiming to be "decentralized" can turn around and cut off your funds using smart contract permission controls. The foundation of trust is thus hollowed out.

The market now needs genuine transparency more than ever. It requires a truly decentralized, censorship-resistant, transparent, and stable monetary protocol—one that can withstand such trust crises. That’s why decentralized stablecoin solutions like USDD are increasingly valued. It’s not just hype but a real demand.

When project teams can press the "red button" at any moment, investors start to reflect: what kind of financial infrastructure do I truly need?

WLFI2.13%

USDD0.03%

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RugDocDetective

· 6h ago

It's the same old "red button" trick again; decentralization is all just illusions. How can true decentralization freeze assets? That's just ridiculous. The WLFI project's recent actions truly embarrass the entire industry.

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SudoRm-RfWallet/

· 12h ago

Did the big brother lose 75 million directly? Is this what they call decentralization? Laughing to death, it's better to use traditional finance. --- Pressing the red button and the money is gone, who dares to play this... --- Is WLFI now a negative example? The blacklist tactic is too ruthless. --- It seems I need to reevaluate those "completely decentralized" projects; it all feels like marketing talk. --- Is it really that outrageous? If the project team wants to freeze assets, then what is DeFi called? --- Before investing, you need to thoroughly review the code; just reading the white paper is too risky. --- 60 million evaporated in three months, how strong must one's mental resilience be... I would have collapsed already. --- So, it's better to find projects that are truly transparent with sound mechanisms; there are too many hidden pitfalls. --- That's why I only stick to top-tier projects; the risk is much lower.

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TokenAlchemist

· 12h ago

nah this is exactly why i stopped touching anything with admin keys. $75M getting yeeted because some devs thought they could play god with their blacklist contracts... that's not defi, that's just cosplaying decentralization lmao

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HodlOrRegret

· 13h ago

That's why I never go all in on a project; the red button is always there.

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GasFeeCrying

· 13h ago

It's the story of that red button again, this time truly a level of social death. --- Damn, $75 million confiscated with one click. Is this still called decentralization? Laughing to death. --- I just want to know how that investor is feeling right now. How regretful must they be. --- So, the real enemy of HODL isn't the bear market, but the hand of the project team. --- Now the entire trust in DeFi has dropped to zero. --- Looks like I need to learn how to manage my own wallet. No more trusting any so-called protocols. --- This is arguably the most outrageous event in the crypto world TOP 5, with someone being precisely targeted. --- Here's the question: should projects that implement blacklisting features be shut down? --- Basically, it's just a rebranded centralized system. How can they still talk about the decentralization dream?

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RetailTherapist

· 13h ago

It's another blacklist sniping. How come anyone still dares to touch this thing? --- $75 million just disappeared, truly unbelievable... Luckily, we don't have that much money. --- Decentralization? Ha, just press a red button and you'll understand. --- The WLFI project is really a scam; more people need to know about this. --- It feels like we need to see if the project team has truly delegated authority; otherwise, it's all just bluffing. --- Here's the question: with the blacklist feature, how many projects would dare to completely shut it down? --- What was this guy thinking, throwing so much in at once... --- Trust bankruptcy is even more painful than losing money. --- That's why resisting censorship is the real necessity; just shouting about decentralization isn't enough. --- Stablecoins like USDD really have a meaningful existence; no hype, no blackening.

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PortfolioAlert

· 13h ago

Another trick... still dare to call yourself decentralized? --- $75 million is gone just like that, hilarious. Is this Web3? --- Pressing the red button causes assets to evaporate. What kind of project is this... --- So is decentralization just like this, is it really true? --- Wake up everyone, your money isn't even on the chain. --- WLFI? Those who have heard of it have all met a bad end... --- This is the real rug pull, everyone. --- The project team says they won't freeze assets? That's laughable. --- I just want to know how this guy ended up choosing this pit. --- What does the blacklist mechanism indicate? It shows that they never really intended to go truly decentralized.

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ValidatorViking

· 13h ago

so WLFI just straight-up hit that red button and nuked $75M... this is what happens when you trust a "decentralized" protocol that's actually just cosplaying as one. smart contract permissions need real slashing risk behind them or devs will keep pulling this garbage.

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