WLFI Token Holders Face Multi-Vector Scams: From Honeypot Traps to Smart Contract Exploits

The explosive launch of World Liberty Financial (WLFI) has become a magnet for sophisticated attack campaigns. As trading volumes surge to $4.68M in 24-hour activity, security researchers have uncovered a dangerous pattern: scammers are deploying coordinated phishing operations that exploit Ethereum’s latest technical capabilities.

The EIP-7702 Delegate Attack Vector

Blockchain security experts at SlowMist recently flagged a concerning trend emerging in early September following WLFI’s launch. The culprit: Ethereum’s Pectra upgrade, which introduced EIP-7702 functionality allowing external accounts to behave like smart contract wallets.

While this feature enhances user flexibility, it created an unforeseen vulnerability. When attackers gain access to a private key through phishing, they can inject a malicious delegate contract into the compromised wallet. The contract then executes automatically on every transaction—without needing manual intervention. For users attempting to claim airdrops or trade WLFI, this means their tokens vanish instantly as the malicious smart contract siphons them away.

This approach allows scammers to operate at scale. Unlike traditional phishing that requires monitoring and manual wallet drainage, delegate-based attacks function autonomously once deployed. A single compromised key can result in cascading token losses across numerous transactions.

Beyond Smart Contracts: The Honeypot Scam Evolution

The threat landscape extends beyond technical exploits. A documented case illustrates how scammers are layering attack strategies: after identifying WLFI holders, bad actors initiated airdrop campaigns with fraudulent tokens designed as honeypots. One victim, having legitimately purchased WLFI tokens, unknowingly swapped for a fake version through Phantom Swap after receiving the malicious airdrop—losing $4,876 in the process.

This honeypot scam variant operates differently than delegate attacks. Instead of compromising keys, attackers trick users into voluntarily trading real tokens for fake ones. The psychological hook: users believe they’re receiving legitimate token distributions or accessing genuine trading opportunities.

The Convergence of Attack Methods

What makes the current WLFI threat ecosystem particularly dangerous is the combination of attack vectors. Scammers aren’t limited to one method—they’re testing multiple approaches simultaneously:

Phishing + Delegate Injection: Compromise private keys, embed malicious contracts, auto-drain wallets

Fake Token Airdrops: Create honeypot tokens that appear legitimate, incentivize swaps on DEXs like Phantom Swap

Social Engineering: Target holders with fake investment opportunities or token migration schemes

What WLFI Holders Should Monitor

Given the scale of these campaigns, vigilance is critical. Never approve unfamiliar token contracts, verify delegate permissions in wallet settings, and treat unsolicited airdrops with extreme skepticism. The convergence of Ethereum’s expanded wallet functionality with honeypot mechanics has created a perfect storm for sophisticated scammers targeting World Liberty Financial holders during peak hype periods.