Top Tweets for #WKAS

The biggest rug pull of 2025 – and no one’s talking about it. Ever heard of Chainge? No? Lucky you. Because Chainge pulled off one of the biggest scams in recent crypto history. Let’s start from the beginning. Chainge was a multichain DEX that let users swap coins across different chains — for example, Bitcoin to Solana. It also had a built-in wallet and offered liquidity provision. Nothing too unusual so far. The real hype started in 2024 when Chainge became the first DEX to support Kaspa tokens. They also introduced "Wrapped Kaspa" (WKAS), allowing Kas to be traded on BSC and Ethereum. But here’s the catch: Chainge was the only bridge to convert WKAS back to native Kaspa. And that’s where the nightmare began. In early 2025, the WKAS -> KAS bridge was "temporarily" closed for "technical reasons". Guess what? It’s still down. That’s when the scam escalated. Soon after, more transactions began freezing. People tried swapping BTC to ETH — and their Bitcoin just got stuck. Then, withdrawals from the Chainge wallet stopped working. Funds still appear in the wallet, but you can probably guess where this is going. And just when it seemed it couldn’t get worse, they scammed the Kaspa community again. People swapped Kaspa into CUSDT (Chainge's fake stablecoin), only for that bridge to get shut down as well. CUSDT is now worthless. I can only speak for Kaspa, but if you check the flagged Chainge wallets on **https://t.co/pDPgUlN8dL** — they’re basically empty. All the Kaspa Chainge held is gone. I’ve seen posts on X claiming 290,000,000 KAS were sent from those wallets to a CEX. I can’t verify the exact amount, but that would be over $30 million. As for other crypto assets, just look in the Chainge Telegram group — countless people are reporting lost funds. The total damage is likely in the hundreds of millions. And here’s the worst part: The scam is still ongoing. Chainge is still live. If you try to swap now, your funds will get stuck. More and more people are losing their money every day. Chainge claims they're having technical issues and that the founder will "reimburse users from his own pocket". Yeah, right. That’s just a delay tactic — they’re buying time to disappear. The Telegram group will be deleted. The website will vanish. Watch it happen. I urge all blockchain experts: investigate this and raise awareness on X. Let’s expose those responsible for pulling off one of the biggest scams in recent crypto history

we appreciate your concern. 1. wKAS defacto remains pegged 1:1 with KAS. The current fluctuations in the wKAS/USDT swap ratio are due to low liquidity on Ethereum, caused by large wKAS sell-offs. This is purely a liquidity issue, not a problem with the peg itself. Once the bridge is reopened and USDT/KAS swaps are re-enabled, arbitrage opportunities will naturally restore the swap ratio to its normal levels. The wKAS/KAS bridge peg will continue to hold at 1:1, as it always has. 2. Why is the wkas bridge paused? Previously, the DCRM node for bridging was designed to function exclusively within the Chainge system. With the launch of https://t.co/O1lrs9BENf, the bridge must now support both trading and bridging across the 2 platforms. This transition requires enhanced security measures, and we are currently in the process of redeploying the bridge system to meet these new requirements. It is not safe to reopen the bridge at this time, and we are unwilling to compromise on security. We sincerely apologize for the temporary inconvenience caused by the bridge being paused. Please rest assured that we are working as quickly and efficiently as possible to restore full functionality.