GM, frens! ☕️

Beauty’s always been in the eye of the beholder. One person sees elegance, another sees chaos. In crypto that gap gets even wider. The same project, the same idea can look brilliant to one type of person and completely absurd to another 🤔 

That difference in perspective is part of what keeps the space moving. Everyone’s looking at the same thing, just through a slightly different lens 🤓 

Here’s what we’re looking at this week:

• 🏏 Bonk domain hijacked, users hit with wallet drainer prompt

• 🔥 New Ambire UI, Rewards Season 2 up for a community call

• 💵 X Money is coming, speculation arrives early

• 🤔 From geopolitics to liquidations

• 🤖 AI tokens pop as Nvidia preps an open source agent platform

Below is how $WALLET is trading right now:

And if you want to compare perspectives, our Discord is open 🤠 

Bonk domain hijacked, users hit with wallet drainer prompt

Most people don’t “browse” memecoin websites. There’s usually nothing to see. You click once, you ape, you leave.

The page is basically a logo and a button, maybe a link to the socials if the team is feeling fancy. So when one of those sites suddenly even wants you to read a “terms of service” pop up, that’s already a big alarm bell 🔔 

At least that’s basically what happened with Bonk.fun 👇️ 

According to reporting and the project’s own updates, attackers hijacked the Bonk.fun domain and used it to push a wallet draining phishing prompt.

• The setup was simple and ugly: a fake TOS style message (why do those still exist even?) that tried to trick users into signing something they absolutely shouldn’t sign.

• Browser security systems also started flagging the site for suspected phishing, which is one of the few times Big Browser actually saves people instead of just ruining your day with cookie popups 🍪 

• Bonk.fun’s operator said a team account had been compromised first, and that’s what let the attackers push the malicious flow through the domain.

• The team urged users not to use the Bonk.fun domain “until further notice” while they dealt with it 🔧 

• Bonk.fun said the attack targeted users who interacted with the malicious prompt after the compromise. In other words, the people affected were the ones who signed the fake TOS message on the Bonk.fun domain once it had been hijacked 🤦‍♂️ 

• They also said users who had previously connected their wallets to the site, or who traded tokens launched through the platform on external terminals, were not affected.

They didn’t immediately disclose how many users signed the malicious transaction, or the estimated value of funds lost. But that’s pretty typical right after the incident, especially if they’re still mapping what happened, watching addresses, and trying to close off any remaining access 🤔 

Worst thing is with these hacks, nobody needs to break the chain to wreck people.

You just need a trusted domain at the right moment, a fake button and a user base trained to click through anything because the whole memecoin economy runs on speed 🤷‍♂️ 

New Ambire UI incoming, Rewards Season 2 up for a community call

Ambire is teasing a fresh new look that should go live in the coming days, and the preview already screams “less clutter + more control” 🔥 

At the same time, the wallet got a governance call running on the other side of the house: what happens with Ambire Rewards Season 2. The vote is about extending it or closing it, with $WALLET and $stkWALLET holders deciding the outcome before the March 15 deadline 📆 

Put together, it’s a pretty normal combo for a wallet that’s actually being maintained: polish the experience, then let the community pick what stays running 👀 

X Money is coming, speculation arrives early

"Next month” is a timeline, but it’s also a blank canvas. People instantly fill it with whatever they already believe 🙃 

Twitter/X’s future “money” feature isn’t any different 👇️ 

Here’s what’s actually on the table, at least from what’s been said publicly: X Money is a financial feature/app tied to X and it’s moving from closed testing toward public access. That’s what was stated. Everything else is the part where crypto community does what crypto community does: connects dots, argues about the dots (and of course trying to trade and ape into the dots) 🫠 

A big part of what’s being discussed on CT is predictable:

Will it support crypto? 

No one has clean confirmation on crypto per se, which is why the topic instantly becomes a magnet for confident takes.

• Musk’s history with crypto obviously keeps the conversation alive, and Dogecoin gets dragged into the room 🐶 

• Meanwhile, the more serious angle is what X Money might mean even without crypto at day one: a payments layer inside a platform that already has distribution, attention and a habit of moving fast when it decides it cares.

That’s where the tension is. Payments products are boring until a sudden drama and then everyone remembers that money has rules. Compliance, fraud, chargebacks, disputes, identity, jurisdiction, the whole adult checklist. Even if X Money launches as a mostly fiat product at first, it still has to survive that world. And if it does add crypto later, it walks into an even messier room 💰️ 

AI tokens pop as NVIDIA preps an open source agent platform

AI coins are basically allergic to calm. Give the market even a hint of “big tech is about to do a thing” and the whole category starts jogging in place like it just heard the bell ring.

This time what woke the community up was a report saying NVIDIA is getting ready to roll out an open source platform for autonomous AI agents 🤖 

It’s called NeMoClaw, and the idea is pretty straightforward: let companies deploy AI agents that can handle multi step work for employees, instead of being stuck as a chat box that only answers one prompt at a time (and fails at that simple task too) 🤪 

• The rumor mill also says NVIDIA has been talking to big enterprise names about potential partnerships, with companies like Salesforce, Cisco, Google, Adobe, and CrowdStrike mentioned in the mix 👀 

• The timing lines up with NVIDIA’s GTC conference starting March 17, which is exactly the kind of calendar anchor traders love, because it gives them a date to stare at while they front run each other.

Tokens tied to AI, even stuff like Bittensor (TAO), NEAR, and ICP, moved higher. The broader “AI token” bucket reportedly climbed about 4.8% to around $14.17B in market value, and it outpaced the wider crypto market 👇️ 

None of this confirms how big NemoClaw ends up being, or what it looks like in the real world. But it does explain the activity: traders saw “NVIDIA”, “open source” and “agents”, mashed it into one and decided the AI narrative deserved another lap 💵 

If NVIDIA actually drops details at GTC, expect the usual second act: people arguing whether this helps open ecosystems, whether it just funnels more mindshare into Nvidia’s stack and which tokens are riding real usage versus pure vibes.

From geopolitics to liquidations

It’s been one of those stretches where the Middle East conflict isn’t just moving oil, it’s moving people’s brains 😐️ 

You can see it in the way traders talk, you can see it in the way everyone has suddenly turned into amateur geopolitics pro and you can definitely see it in the way size and leverage start creeping up like nobody remembers what a wick is. The market doesn’t even need to be right, it just needs to be fast 🏃 

Conflict certainly creates the cleanest excuse for degens to ape 🐒 

• Oil is the perfect stage for it. It’s already volatile, it already has a giant narrative attached to it, and when the Strait of Hormuz (that most armchair geopolitics pros have never heard about just 2 months ago) starts showing up in mainstream news again, people treat crude like it’s a memecoin 🐸 

You get that “I’m early” feeling, except you’re early to a global supply chain panic 🛢️ 

• And because crypto never sleeps, the usual “markets closed” speed bump doesn’t exist here. Onchain perps and tokenized futures are open 24/7. The story is live, the chart is live, your intrusive thoughts are live too 🤔 

• That’s why platforms like Hyperliquid have been pulling serious attention lately. Tokenized futures have been getting hammered with activity, not just on crypto pairs but on equity and commodity style contracts too.

The problem is that “wherever the buttons still work” also attracts the exact kind of behavior you’d expect when the news cycle is running hot: oversized positions, leverage that assumes reality is optional and a lot of people discovering that volatility doesn’t care how convinced you are.

Which is where the obligatory examples come in.

• Lookonchain flagged a Hyperliquid wallet that took a huge leveraged long on crude oil futures and got wiped in under 40 minutes. Roughly $3.2M notional, 20x leverage, a liquidation level close enough that the trade basically needed the market to do nothing. It didn’t. The position evaporated 💸 

Geopolitical stress feeds volatility, volatility feeds degen behavior, degen behavior feeds forced liquidations and the liquidations themselves become content that drags even more eyeballs into the trade 🤐 

The market’s always been a mirror, but in weeks like this it’s more like a funhouse one.

Other worthy reads

A situation around AAVE involved a user losing nearly $50 million after swapping USDT for just 324 AAVE. Despite explicit slippage warnings and a required confirmation checkbox, the user proceeded with the transaction. Aave confirmed the system functioned as intended but plans to refund $800,000 in collected fees and investigate better guardrails for the future.

Community’s already poking fun at this:

“We’re Entering the Agentic Era of Crypto” by Diego:

“Services: The New Software” by Julien Bek:

MEMES

That's all for now, frens.

We'll meet in a week! And remember, the market conditions are temporary, but our commitment to building a better Web3 is here to stay. Thanks for joining us, and we look forward to seeing you back next week. Cheers!

Yours, The 🔥 Team

Brought to you by Ambire: The Only Web3 Wallet That You’ll Need!