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cryptonews 2025-05-19 21:19:04

Dough Finance Hack: $2.5M Lost – Will Silent World Liberty Partners Repay Investors?

Dough Finance Hack: $2.5M Lost – Will Silent World Liberty Partners Repay Investors?

Clients of Dough Finance, a trading platform launched by World Liberty Financial co-founder Chase Herro, are still waiting to be “made whole” after a hack drained millions of dollars in user funds, a Monday report from Reuters reveals. Hackers Exploit Dough Finance, Steal $2.5 Million According to a May 19 report from the media outlet , an investor named Jonathan Lopez invested $1 million in cryptocurrency through Dough Finance in May 2024. NEW: Two Trump family crypto business partners have made ~$65M on @worldlibertyfi already. Their old @DoughFina clients are still waiting to be made "whole" as promised https://t.co/rOP7lYj6ME $WLFI — Lawrence Delevingne (@ldelevingne) May 19, 2025 Lopez reportedly paid a 5% fee to the crypto company for the investment, while Herro “personally showed” him how to use the novel platform. Lopez subsequently bolstered his funds through “looping,” wherein he was able to purchase the same digital asset before using the newly acquired crypto as collateral to buy even more of the coin in a bid to up his holdings. But it all came crashing down just two months later when hackers exploited a vulnerability in Dough Finance’s code on July 12, draining $2.5 million from Lopez’s account. Dough Finance Facing Client Lawsuit After Funds Wiped According to Reuters, Herro’s long-standing business partner, Zachary Folkman, claimed that the organization would “not stop” until everyone affected was “made whole.” “Dough Finance is committed to maintaining the highest standards of security and transparency,” the company said in a July statement. “We acknowledge our mistake and are deeply sorry.” “We will continue to work diligently to protect our users and their assets, learning from this incident to enhance our security posture,” the organization added. However, Folkman and Herro allegedly stopped responding to the Telegram channel by August 18. The Trump-affiliated digital asset organization, World Liberty Financial, was unveiled the next month, with Herro and Folkman named as partners in the crypto venture. Dough Finance announced it would give away proprietary tokens equivalent to the missing funds that would be exchangeable for ETH in August 2024, though not all clients were happy with the offering. Lopez is moving forward with a lawsuit against Herro, set to go to trial in April 2026. The post Dough Finance Hack: $2.5M Lost – Will Silent World Liberty Partners Repay Investors? appeared first on Cryptonews .

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Loe lahtiütlusest : Kogu meie veebisaidi, hüperlingitud saitide, seotud rakenduste, foorumite, ajaveebide, sotsiaalmeediakontode ja muude platvormide ("Sait") siin esitatud sisu on mõeldud ainult teie üldiseks teabeks, mis on hangitud kolmandate isikute allikatest. Me ei anna meie sisu osas mingeid garantiisid, sealhulgas täpsust ja ajakohastust, kuid mitte ainult. Ükski meie poolt pakutava sisu osa ei kujuta endast finantsnõustamist, õigusnõustamist ega muud nõustamist, mis on mõeldud teie konkreetseks toetumiseks mis tahes eesmärgil. Mis tahes kasutamine või sõltuvus meie sisust on ainuüksi omal vastutusel ja omal äranägemisel. Enne nende kasutamist peate oma teadustööd läbi viima, analüüsima ja kontrollima oma sisu. Kauplemine on väga riskantne tegevus, mis võib põhjustada suuri kahjusid, palun konsulteerige enne oma otsuse langetamist oma finantsnõustajaga. Meie saidi sisu ei tohi olla pakkumine ega pakkumine