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Trump’s Crypto Partners Accused Of Abandoning Investors From Hacked DeFi Project
- Two of President Trump's business partners from his World Liberty Financial (WLFI) crypto venture, Chase Herro and Zak Folkman, have been accused of abandoning investors from their previous Decentralized Finance (DeFi) project, Dough Finance, which suffered a $2.5 million exploit nearly a year ago.
- Dough Finance was exploited last year, resulting in $2.55 million in USDC and Ethereum (ETH) being stolen. Despite efforts to recover funds, several investors have not received payments, and the co-founders have seemingly abandoned the project to launch their new venture, WLFI, alongside President Trump and his sons.
- Following the collapse of Dough Finance, Herro and Folkman allegedly stopped updating the project's communication channels and deleted groups. A lawsuit has been filed against Herro in Florida for fraud, misrepresentation, and other violations related to Dough Finance.
- Reports claim that Herro and Folkman made over $65 million from WLFI's revenues. Investors in Dough Finance have expressed concerns over the lack of communication and compensation from the co-founders.
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