In July 2024, Dough Finance, a DeFi platform specializing in leveraged ‘looping’ strategies, was hacked via a flash-loan exploit, losing $2.5 million in user funds. The breach forced the Florida-based project to shut down. Founders Chase Herro and Zak Folkman, who had promoted high-risk crypto strategies, later resurfaced with a new initiative backed by former President Donald Trump. The incident highlights the vulnerabilities in DeFi protocols and the risks of complex yield-farming tactics like looping, where borrowed crypto is repeatedly reused to amplify returns—and losses.
about Dough Finance Hack: $2.5M Lost, Founders Rebound with Trump BackingDough Finance
0 in Finance and 0 in Crypto last weekTrump-Linked DeFi Platform World Liberty Financial Acquires 100 Million in Crypto
World Liberty Financial (WLF), a DeFi platform linked to Donald Trump, made headlines by purchasing over $100 million in cryptocurrency on Inauguration Day, including significant amounts of Ether and wrapped Bitcoin. The platform’s total holdings reached $326.2 million, with notable acquisitions of smaller tokens and the launch of Trump-branded memecoins. The Trump family’s involvement has sparked both interest and debate within the cryptocurrency community regarding the intersection of politics and digital finance.
about Trump-Linked DeFi Platform World Liberty Financial Acquires 100 Million in Crypto