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New Gems, Uncategorized

Cardi B embraces Solana with $WAP project, building a vibrant crypto community

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Today, $WAP, a new crypto project making waves on the Solana blockchain, officially announces its progress and growing community support. Bolstered by the involvement of global rap superstar Cardi B, who recently made headlines for joining the Solana ecosystem, $WAP aims to revolutionize crypto payments with its innovative embedded credit card solution.

Cardi B Joins the Solana Ecosystem

Cardi B, the award-winning rapper with over 35 million Twitter followers, has been actively engaging with the crypto community since joining the Solana blockchain. 

Known for her candid and dynamic personality, Cardi has lent her influence to $WAP—which positions itself as a fun, yet cutting-edge project aiming to onboard more mainstream users into the crypto space. Her participation has sparked excitement across both her fanbase and the Solana network, marking a new chapter for celebrity-driven crypto initiatives.

As part of the $WAP narrative, Cardi has embraced crypto-enabled credit card payments through the project’s proprietary “Moonshot” solution. This embedded payment system aims to make cryptocurrency more accessible by seamlessly integrating with traditional financial platforms. 

With Cardi’s involvement, $WAP is paving the way to connect mainstream culture with blockchain technology in ways that resonate with users beyond the crypto space.

Building Amidst Organized FUD and Strong Community Support

Since its inception, $WAP has faced challenges from detractors spreading misinformation and unproven allegations against the project. However, instead of slowing down, these efforts have had the opposite effect—galvanizing a strong and vocal community of supporters who have rallied behind the project.

Prominent crypto influencers such as Shmoo, Rex, and Solstice have stepped forward to defend $WAP, helping dispel rumors and clarify misinformation circulating on social platforms. 

Their public endorsement underscores the credibility and momentum that $WAP continues to build, cementing it as a rising star within the Solana ecosystem.

In response to the FUD, the $WAP community has embraced a mindset of resilience and positivity, using humor and transparency as tools to combat negativity. “Our community is not just a group of investors—they’re advocates for the future of fun, inclusive crypto adoption,” said a $WAP team member. “We’re grateful for the overwhelming support from influencers and everyday users alike.”

Meet WAP the Cat: A Symbol of the Project’s Spirit

In a whimsical twist, Cardi B has also added a new family member: WAP, a four-month-old British Shorthair cat. This adorable pet has quickly become a mascot for the project, further capturing the hearts of both crypto enthusiasts and Cardi’s fans

Source: x.com

With a full-time team dedicated to WAP’s grooming and well-being, the cat has become an essential part of the project’s identity, participating in playful activities shared across social channels. Cardi’s decision to name the kitten after the project reflects her commitment to the venture and demonstrates the lighthearted, community-oriented ethos that drives $WAP.

What’s Next for $WAP?

As the project continues to develop, the $WAP team is focused on expanding adoption and ensuring a smooth user experience for its embedded credit card payments. With Cardi B at the forefront and a robust community rallying behind the initiative, the team is optimistic about widening $WAP’s reach beyond crypto circles.

In addition to growing the user base, $WAP is working closely with influencers and developers to introduce new features and collaborations that align with the project’s vision. “We’re not just here to ride the wave,” said a project spokesperson. “We’re building something sustainable and accessible for all.”

The official project channels encourage participation, discussion, and feedback from both new users and seasoned crypto veterans alike. Interested users can learn more at https://wapcoin.wtf and follow updates via Twitter at https://x.com/wapwtf or join the conversation on Telegram at https://t.me/wapcoinwtf.

About $WAP

$WAP is a community-driven cryptocurrency project built on the Solana blockchain, combining fun, culture, and innovative financial solutions. Led by Cardi B’s active involvement and community support, the project aims to make crypto payments easier through embedded credit card solutions, bridging the gap between mainstream audiences and blockchain technology.

Website | Twitter | Telegram | Jupiter

Disclaimer:

The information provided in this release is not investment advice, financial advice, or trading advice. It is recommended that you practice due diligence (including consultation with a professional financial advisor) before investing or trading securities and cryptocurrency.

 

Solana, Web3

Pump.fun launches ‘Advanced’ terminal to rival Photon, confirms token launch

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Solana-based memecoin launch platform Pump.fun teased a new token and potential airdrop following its most successful week to date.

The announcement was made during a Twitter Spaces event introducing Pump Advanced, the platform’s latest trading terminal designed to compete with established tools like Photon and Bull X.

The new Pump Advanced terminal, optimized for the platform’s users, integrates mini charts, top holder stats, and social activity features into a single view.

The terminal will offer 0% fees for the first month to attract new traders to Pump.fun. The terminal also supports secure logins through email using the Privy non-custodial wallet solution.

During the event, Pump.fun co-founder Sapijiju also hinted at plans for a future token and possibly an airdrop, although no official timeline has been confirmed. He said in response to questions:

“We are definitely planning on launching a token at some point in the future. I’m not going to say when, that’s all to come. Our airdrop, no guarantees here, will probably be a lot more lucrative than anyone else in the space.”

While the exact details remain under wraps, it is expected that the token will be launched on Solana, the same network as Pump.fun’s existing offerings.

Since its launch in January, Pump.fun has generated over $140 million in fees through the creation of more than 2.5 million Solana-based tokens.

The platform has gained popularity for enabling users to quickly create tokens, helping fuel meme coin trends like celebrity-themed tokens and viral livestream stunts. This week, Pump.fun recorded a daily high of 31,600 newly created tokens and surpassed $1.1 billion in trading volume following a resurgence in activity.

With its growing user base and new trading tools, Pump.fun continues to solidify its reputation as a go-to platform for creating and trading meme coins despite rising competition on other networks.

news, Uncategorized

Dogecoin surges 10% as Elon Musk names proposed government department DOGE

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Elon Musk has proposed establishing a Department of Government Efficiency (D.O.G.E.) under another Trump presidency. The initiative aims to streamline government spending, simplify administrative processes, and enhance the efficient use of taxpayers’ money.

Former President Donald Trump has voiced support for Musk’s proposal, indicating he would appoint Musk to lead a government efficiency commission if re-elected. Per Yahoo Finance, Musk has donated over $75 million to American political action committees since July 2024, positioning himself as a key supporter of Trump’s presidential campaign.

The announcement has had a substantial impact on Dogecoin (DOGE). Dogecoin’s price surged by 10% within 24 hours, surpassing $0.13. According to Coinglass, open interest in DOGE futures increased 18.09% to $926.76 million, while options volume increased 616.31%, indicating heightened market activity and investor interest.

Social media platforms have witnessed a surge in Dogecoin-related discussions, reaching the highest levels in the past year. Traders speculate that Musk’s political involvement and the D.O.G.E. initiative could lead to increased retail interest in Dogecoin. Some believe that a potential Trump victory might further integrate “DOGE” into governmental discourse, somehow influencing the digital asset’s adoption and value.

Musk’s longstanding relationship with Dogecoin is well-documented, with previous announcements often causing significant price movements and leading to legal action against the billionaire. In April 2023, he hinted at the possibility of DOGE payments on Twitter (now X), sparking enthusiasm within the crypto community.

The proposed Department of Government Efficiency is envisioned to operate with corporate-style management principles, offering incentives for high performers and imposing consequences for underachievers. Musk unveiled the name of the initiative during a town hall meeting in Pennsylvania, emphasizing his dedication to improving governmental operations and reducing unnecessary expenditures.

Musk continues to leverage his platform to advocate for Donald Trump’s campaign, using Dogecoin references to draw interest. However, he has yet to make any substantial moves to support the crypto industry since he stopped accepting Bitcoin for Tesla in 2021 and sold most of its holdings. Tesla recently moved all of its Bitcoin to a new wallet.

Uncategorized

Eigenlayer X account hacked taking advantage of platform design to hide scam link

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Eigenlayer’s X account has been compromised, prompting a warning from blockchain security firm PeckShieldAlert. Users are urged to avoid clicking on phishing links from the account.

The phishing attempt employs sophisticated tactics. The fraudulent link is obscured because X displays a preview image of the legitimate Eigenlayer website, including the official blog page URL.

Eigenlayer scam post | Source: x.com

The attacker has added an antiscam image to the tweet thread, positioning it as the final post in a series, which adds credibility to the deceptive message. Users may not detect the malicious link unless they interact with the main tweet to expand it fully, as the visible preview appears legitimate. Several versions of the scam link have appeared on the account over the past hour, with the hacker seemingly rotating URLs to avoid exposure through retweets.

Eigenlayer scam post | Source: x.com

This incident emphasizes the threat of X account takeovers in the crypto space, where official checkmarks are given to paid users and operation security practices are more lax than decentralized social media such as Lens Protocol.

Phishing scams involving compromised accounts and fake airdrops have become prevalent, exploiting users’ trust in official channels. Such attacks are effective because they leverage familiar platforms and trusted sources to disseminate malicious content.

Per Chainalysis, approval phishing, where victims are tricked into signing malicious transactions, has resulted in billions in losses since 2021. Social media platforms like X and Telegram are hotspots for these scams, with research indicating that comments under official crypto project posts increasingly contain phishing links.

In the first half of 2024, PeckShieldAlert reported over 200 major hacks in the crypto space, leading to approximately $1.56 billion in losses, of which only $319 million were recovered. The growing frequency of such incidents emphasizes the need for enhanced security measures and increased user vigilance.

Users are advised to verify information through multiple channels and exercise caution when interacting with links, even if they appear to originate from official accounts. The use of misleading previews and added images to simulate legitimacy demonstrates the strategies attackers employ in the crypto ecosystem.

The situation with Eigenlayer’s compromised account is ongoing as of press time. Users should stay informed through trusted sources and avoid engaging with suspicious content.

UPDATE: More recent versions of the scam appear to have edited tweets that remove the explicit scam URL from the body of the post while retaining the preview image. This method makes it impossible to identify the scam link without clicking on it. Hovering over the link preview provides a shortened t.co link from X stopping users from knowing the final destination.

news, Uncategorized

US Treasury fraud prevention leaps with AI, recovering $4 billion

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The US Department of the Treasury announced that it has prevented and recovered over $4 billion in fraud and improper payments during the 2024 fiscal year, leveraging machine learning and artificial intelligence (AI) technologies.

According to the Treasury’s Oct. 17 statement, this $4 billion figure includes funds both recovered and those stopped before fraudulent transactions could occur, spanning the period from October 2023 to September 2024.

This marks a significant increase from the $652.7 million recovered and prevented during the 2023 fiscal year. The Treasury attributed the rise to its intensified efforts in preventing fraud and safeguarding customer transactions.

In FY 2024, the Treasury expanded its risk-based screening process, which successfully prevented the loss of $500 million in fraud. The department also prioritized high-risk transactions, resulting in $2.5 billion in fraud prevention.

Additionally, the department reported using AI-driven machine learning to expedite the recovery of $1 billion linked to Treasury check fraud. It also implemented more efficient payment processing schedules, which helped prevent another $180 million in fraudulent activity.

These accomplishments come as financial fraud continues to rise globally, with online payment fraud projected to surpass $362 billion cumulatively by 2028. In response, the Treasury is prioritizing using emerging technologies like AI and machine learning to mitigate these risks.

The Treasury is focusing on building partnerships to strengthen its payment integrity systems further. In May 2023, it entered a data-sharing agreement with the Department of Labor as part of these efforts.

Treasury Deputy Secretary Wally Adeyemo emphasized the department’s commitment to its role as a steward of public funds. Adeyemo said:

“Treasury takes seriously our responsibility to serve as effective stewards of taxpayer money. Helping ensure that agencies pay the right person, in the right amount, at the right time is central to our efforts.”

The Treasury currently handles about 1.4 billion payments annually, with a total value of $6.9 trillion for more than 100 million people.

Uncategorized

Montenegro to finalize Do Kwon’s extradition fate by week’s end

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Montenegro’s Justice Minister Bojan Božović confirmed that a decision had been reached regarding the extradition of Do Kwon, the co-founder of Terraform Labs.

According to local media reports on Oct. 17, the extradition process will be signed by the end of this week. The decision comes after a lengthy legal process that has been mired in controversy and spanned several months.

Božović refrained from providing additional comments on the specifics of the case and did not disclose where Kwon would be extradited.

He said:

“As the Minister of Justice, I have no further comments beyond what the Supreme Court has established.”

Kwon’s legal troubles in Montenegro first began when he and Terraform CFO Han Chang-joon were arrested at Podgorica airport in March 2023 for attempting to use forged documents.

The two were sentenced to jail terms in Montenegro but remained at the center of international extradition requests as they fought charges abroad for their role in the collapse of TerraLUNA in 2022, which caused more than $40 billion in losses.

Chang-Joon was extradited to South Korea earlier in 2024 after completing his sentence.

Montenegro’s decision on Kwon’s extradition is expected to bring clarity to a case that has been mired in delays and appeals. South Korean authorities are likely to expedite his return, with no further avenues for appeal within Montenegro following the Appellate Court’s final ruling in August 2024.

If extradited to South Korea, Kwon will face an intense legal battle, as several other Terraform executives have already been indicted, but the country is seen as relatively lenient in terms of penalties for financial crimes.

Meanwhile, the US has pushed for Kwon’s prosecution on more severe charges, including securities fraud, which means he could face a lengthy prison sentence if prosecuted in American courts.

Altcoins

Worldcoin rebrands as World, targets 1 billion users with new blockchain and biometric tech

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Worldcoin, the Sam Altman-backed digital identity initiative, announced a major rebrand as World and unveiled ambitious plans to grow its user base to 1 billion people during a keynote address on Oct. 17.

The keynote, led by co-founders Altman and Alex Blania, marked a significant shift in the project’s trajectory after it announced a series of key updates designed to drive global adoption of its decentralized identity platform.

The updates included the launch of World Chain, an Ethereum-secured Layer 2 blockchain, and the unveiling of a new version of the project’s biometric Orb devices.

Accelerating growth

The rebranding highlights World Network’s evolving mission, transitioning from its original identity verification model to a broader, more decentralized network.

With 15 million users currently, including 7 million verified through its Orb technology, the platform has set its sights on dramatically increasing that number as it looks to onboard a billion verified human users.

Blania, who is also the CEO of Tools for Humanity, noted that the project is now focused on scalability and decentralization. He said:

“Today, we are taking the next big step in our mission — scaling the World Network to reach 1 billion users.”

World’s new version of the Orb, which scans a user’s iris to verify their identity, is central to the project’s ambition to grow its global footprint. Blania said World will triple its production capacity and expand into new countries, including flagship locations in Buenos Aires and Mexico City.

The updated Orbs will be made available in public spaces such as cafes and will even be deliverable on demand, part of a wider effort to make verification more accessible. The rollout of these new Orbs is expected by spring 2025.

World Chain and digital identity

Alongside the expansion of its biometric capabilities, World officially launched World Chain, a Layer 2 blockchain built on the Ethereum network.

The blockchain is designed to support millions of users. On its first day, the project claimed 15 million registrations globally. According to the company, this makes World Chain one of the largest human verification blockchains in existence.

The World App, a central component of the project, is being updated to Version 3.0. This update will allow users to manage their World ID credentials and access other services, such as World Pay, a decentralized payment system, and World Chat, a messaging tool.

The app will also introduce games and a messaging system called World Chat to further engage users and onboard more participants. Altman, who also leads OpenAI, said World aims to be “the anonymous human layer for the internet,” helping people distinguish themselves from AI actors.

He further emphasized the growing importance of human identity verification as AI continues to advance. According to the OpenAI CEO:

“As AI becomes more integrated into our lives, having a trusted human verification layer is critical.”