{"id":871248,"date":"2025-09-07T21:12:30","date_gmt":"2025-09-08T02:12:30","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/09\/07\/polygon-developer-calls-world-liberty-financial-the-scam-of-all-scams\/"},"modified":"2025-09-07T21:12:30","modified_gmt":"2025-09-08T02:12:30","slug":"polygon-developer-calls-world-liberty-financial-the-scam-of-all-scams","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/09\/07\/polygon-developer-calls-world-liberty-financial-the-scam-of-all-scams\/","title":{"rendered":"Polygon developer calls World Liberty Financial the \u2018scam of all scams\u201d"},"content":{"rendered":"
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\"Polygon Polygon developer calls World Liberty Financial the \u2018scam of all scams\u201d<\/span> Monika Ghosh \u00b7<\/span> 10 hours ago<\/span> \u00b7 3 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n

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A Polygon developer whose wallet was blacklisted claims World Liberty Financial is the “new age mafia” that “stole” his funds.<\/p>\n

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<\/a><\/p>\n<\/div>\n

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3 min read<\/span><\/p>\n

Updated:<\/span> Sep. 7, 2025 at 5:15 pm UTC<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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\"Polygon<\/p>\n

Cover art\/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.<\/p>\n<\/div>\n<\/div>\n

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\"Stake\"<\/a><\/p>\n<\/div>\n

Polygon developer Bruno Skvorc lashed out at World Liberty Financial<\/a> (WLF) on Saturday, accusing the company of stealing his funds. In a post<\/a> on X, Skvorc wrote:<\/p>\n

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\u201c\u2026they stole my money, and because it\u2019s the @POTUS<\/a> family, I can\u2019t do anything about it.\u201d<\/p>\n<\/blockquote>\n

Skvorc was one of the hundreds of users, including Tron<\/a> founder and WLF investor Justin Sun<\/a>, whose tokens were frozen by WLF.<\/p>\n

The decentralized finance<\/a> (DeFi) firm is closely linked to the U.S. President Donald Trump<\/a> and his family. A Trump entity owns 60% of WLF and earns 75% of revenue from token sale. Trump\u2019s sons, Eric and Donald Trump Jr. are part of the firm\u2019s management. According to an estimate published by The New Yorker in August, the Trump family earned about $412.5 million<\/a> from WLF.<\/p>\n

Skvorc attached the email response he received from WLF to his X post, which noted that the firm would \u201cnot be able to unlock\u201d his tokens. The firm justified the freezing of the tokens \u201cdue to the high risk blockchain exposure associated with\u201d Skvorc\u2019s wallet.<\/p>\n

Polygon developer likened WLF to \u2018new age mafia\u2019<\/h2>\n

Since WLF started trading on Sept. 1, the protocol has blocked at least 272 wallets. Denouncing the protocol as \u201cthe scam of all scams,\u201d Skvorc noted:<\/p>\n

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\u201cThis is the new age mafia. There is no one to complain to, no one to argue with, no one to sue. It just\u2026 is.\u201d<\/p>\n<\/blockquote>\n

Skvorc is far from being the only one to criticize WLF\u2019s freezing of assets. In a long X post<\/a> on Friday, Sun, who invested $45 million in WLF last year, stated<\/a> that his assets were \u201cunreasonably frozen.\u201d<\/p>\n

Additionally, Sun noted that a great financial brand must be rooted in \u201cfairness, transparency, and trust.\u201d And not \u201con unilateral actions that freeze investor assets,\u201d he wrote, adding:<\/p>\n

\u201cSuch measures [freezing user assets] not only violate the legitimate rights of investors, but also risk damaging broader confidence in World Liberty Financials.\u201d<\/p>\n

The WLFI<\/a> token is trading at around $0.19 at the time of writing\u2014more than 67% below its all-time-high on launch day.<\/p>\n

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\"Nemo\" <\/a><\/p>\n<\/div>\n

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\"Crypto<\/p>\n

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The Crypto Investor Blueprint:<\/span> A 5-Day Course On Bagholding, Insider Front-Runs, and Missing Alpha<\/h2>\n<\/p><\/div>\n<\/div>\n

WLF has doubled down on its move to freeze assets<\/h2>\n

In an X post<\/a> WLF defended its decision to blacklist user wallets, stating:<\/p>\n

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\u201cWLFI only intervenes to protect users, never to silence normal activity.\u201d<\/p>\n<\/blockquote>\n

The firm further added that the move was made \u201csolely to prevent harm\u201d while it investigated and helped impacted users.<\/p>\n

WLF also shared a breakdown of the blacklisted wallets, which showed that 79% of the blocked wallets were linked to a phishing attack. The firm claimed that it had preemptively frozen the 215 wallets to prevent hackers from draining the funds. WLF said it is working with the rightful owner of the wallets to secure their respective assets.<\/p>\n

The breakdown also revealed that WLF blocked 50 wallets at the owners\u2019 request after they reported that their wallets were compromised. Only five wallets were flagged for high-risk exposure, whose security risks are currently under review, as per WLF.<\/p>\n

Additionally, WLF blocked one wallet for suspected misappropriation of other users\u2019 funds. The firm said it will continue to work with users to verify control and secure funds, and share clear outcomes for each category of wallets once reviews are concluded.<\/p>\n

On-chain sleuth ZachXBT praised WLF\u2019s approach but cautioned against the reputational risks of blacklisting false positives. ZachXBT noted:<\/p>\n

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\u201cThe issue is majority of the time \u201chigh risk\u201d exposure is incorrect so you cannot become reliant on compliance tools as a team.\u201d<\/p>\n<\/blockquote>\n

ZachXBT wrote that all of the top compliance tools are flawed, and WLF is doing a better job than others like Circle, but warned that most teams fail to find the right balance.<\/p>\n

Mentioned in this article<\/h6>\n
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Latest US<\/span> Stories<\/h5>\n<\/div>\n
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Press Releases<\/h5>\n<\/header>\n<\/div>\n<\/div>\n<\/div>\n

Read More<\/a>
\n Monika Ghosh<\/p>\n","protected":false},"excerpt":{"rendered":"

Polygon developer calls World Liberty Financial the \u2018scam of all scams\u201d Monika Ghosh \u00b7 10 hours ago \u00b7 3 min read A Polygon developer whose wallet was blacklisted claims World Liberty Financial is the “new age mafia” that “stole” his funds. 3 min read Updated: Sep. 7, 2025 at 5:15 pm UTC Cover art\/illustration via<\/p>\n","protected":false},"author":1,"featured_media":871249,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23363,23528],"tags":[],"class_list":{"0":"post-871248","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-developer","8":"category-polygon"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/871248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=871248"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/871248\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/871249"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=871248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=871248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=871248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}