Justin Sun’s WLFI tokens drop $60M amid blacklist row

Blockchain analytics firm Bubblemaps said Justin Sun’s locked World Liberty Financial tokens have lost about $60 million in value since September as restrictions on his wallet remain in place.

The platform said Sun is still blacklisted by WLFI more than three months after the action was imposed, highlighting the scale of losses tied to his frozen holdings.

World Liberty Financial blacklisted an address linked to Sun after he moved roughly $9 million worth of WLFI tokens, triggering enforcement measures within the token contract.

The blacklist froze the WLFI tokens at the address and blocked Sun from transferring or receiving them as the token price continued to slide.

WLFI has fallen by more than 40% since it began trading in September, underperforming amid heightened scrutiny and market volatility.

Sun has been a high-profile supporter of World Liberty Financial, a decentralised finance project backed by US President Donald Trump and co-founded by Trump’s three sons.

The crypto billionaire invested around $75 million in WLFI and separately committed about $100 million to Trump’s TRUMP memecoin.

Sun later became the largest holder of the TRUMP token and attended a gala dinner hosted by Trump, where he received a “Trump Golden Torbillon” watch.

Despite his backing, Sun said the blacklist was unexpected and denied any wrongdoing linked to the movement of tokens.

I have contributed not only capital but also my trust and support for the future of this project.

Justin Sun said, adding:

However, during the course of operations, my tokens were unreasonably frozen.

World Liberty Financial has not publicly reversed the blacklist, leaving Sun’s holdings locked as their value continues to decline.

Analysts say the dispute underscores governance risks and investor uncertainty surrounding politically linked crypto projects.

At the time of reporting, World Liberty Financial price was $0.1328.