CryptoHerc

🚨 Chainge Finance’s 2025: The DeFi Nightmare That Hit #Kaspa Hard Back in March 2023, @ChaingeFinance burst onto the Kaspa scene as a game-changer: first major wallet for native KAS, seamless wKAS bridges to ETH/BSC, and a KRC-20 DEX fueling hype. It unlocked #DeFi for Kaspa with swaps, lending, fiat on-ramps and drawing millions in volume and pushing €KAS to its ATH of €0.19 in Jul 2024. But the dream soured fast. Jan 2025: Withdrawals freeze on the wKAS bridge, blamed on “market conditions.” By Feb, wKAS depegs 350%—trading at €0.05 vs. real KAS €0.20 and trapping users’ funds. #CUSDT (Chainge’s USDT) craters, killing KRC-20 liquidity pools and loosing projects funds ( killing many with it ) The collapse hit May 22: On-chain sleuths trace 332M KAS (~€28M at €0.085 avg.) drained to MEXC via shady wallets. CEO @djqianfusion vows reimbursements from his own pocket - empty promises. ‼️Still to this day nothing has been injected and funds are still lost ‼️ Total losses? Estimated $30+ million across assets, with Kaspa users hit hardest. €KAS Price Timeline: • Pre-rug (Jul ’24): €0.19 ATH • Jan-Feb ’25: -14% to €0.12 (depeg panic) • Mar-Apr: -27% to €0.08 ( Bridge Freeze FUD in full flow ) • May low: €0.07 amid rug reveal • Now (Sep ’25): Stable €0.08-9, -63% off ATH but rebounding over 18-20% from Jul lows. Macro bears amplified, but Chainge fuelled the volatility. Impact? Shattered trust, CMC delists depegged wKAS. KRC-20 stalls, miners offline, community split on $1 EOY targets. Yet Kaspa’s PoW resilience shines: Crescendo fork boosts 10 BPS, no central control. $Kas just carried on doing $Kas things Lesson: DYOR, Your keys Your Crypto, Don’t Trust VERIFY !!! #Kaspa #CryptoRug #DeFiScam This is also a reason why fully decentralised Dex platforms like @ZealousSwap and @KaspaCom using SC’s on Kasplex & Igra will bring new trust and security to Kaspa long term