Cofilin binds to actin filaments and induces their depolymerization by severing them, which increases the number of filament ends available for polymerization or depolymerization. This action is crucial for the rapid turnover of actin filaments, aiding in the dynamic remodeling of the cytoskeleton. Cofilin's activity is tightly regulated by phosphorylation at serine 3, with the phosphorylated form being inactive.