A new cryptocurrency risk-rating firm, CORE3, launched on Thursday and immediately placed the Trump family-linked crypto project World Liberty Financial among its 50 riskiest investments. The platform, run by the firm behind blockchain security company Hacken, assigned World Liberty Financial a ‘DDD’ grade based on a high probability of user loss. CORE3 aims to pressure projects to improve security and transparency as institutional interest in crypto grows.
A new cryptocurrency risk-rating firm, CORE3, launched Thursday with ratings for over 1,400 projects. It aims to push the industry toward greater security and transparency by assessing the probability users could lose funds.
The firm assigned World Liberty Financial a DDD rating, placing it among the platform’s 50 riskiest projects. Its 68.01 probability of loss score reflects significant risks in its structure and security practices.
Dyma Budorin, CEO of HAI Group, the firm behind CORE3 and security firm Hacken, stated the industry’s persistent problems. “The industry still suffers from all the same problems it had when I joined in 2017,” Budorin said.
He argued many projects prioritize fast profits over risk management. “We need to put pressure on them,” Budorin added.
The launch addresses a need for risk profiling as traditional finance firms explore crypto investments. Other ratings agencies like Credora and Metrika also operate in the space.
CORE3 differentiates itself by making its scoring methodology completely public. This allows anyone to see the exact reasons behind a project’s assigned grade.
For World Liberty Financial, key risks include a lack of continuous onchain monitoring. This raises the chance of a delayed response to security incidents.
The $2.8 billion DeFi project also lacks a structured bug bounty program. This reduces proactive vulnerability discovery, increasing the risk that attackers find issues first.
Another major risk is the project’s token structure, where insiders own most tokens. CORE3’s detailed assessment is publicly available.
Budorin said he welcomes industry feedback to improve the ratings system. “We are not the final word,” he stated. “If a change to our methodology makes sense we will do it.”
World Liberty Financial did not immediately return a request for comment on the rating. The platform will also reach out to projects directly to request more information to update scores.
