Solana Gameboy is here, ZachXBT with a big $243M bust, and Token 2049 wraps up 🧃

GM Builders! 🚧

Welcome back for another punchy read of the BW3 newsletter— an edition packed with so much juice you might just ask where we got our juicer 🧃 

Here’s what we built for you today:

• Breakpoint and Token 2049 Recap 🌏️ 

• ZachXBT busts $243M scam 😅 

• Deal Flow Friday 💸 

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TOKEN 2049 & SOLANA BREAKPOINT RECAP 🌏️ 

GM Builders! It's Friday.

Let’s dive into the highlights from Token 2049 in Singapore and Solana Breakpoint.

These events have set the stage for the future of crypto, with major product launches, tech advancements, and plenty of chatter about what’s next.

Token 2049 Updates

Token 2049, held on September 18-19, 2024, at Singapore’s iconic Marina Bay Sands, lived up to its reputation as one of the largest crypto events globally. The event served as a hotspot for networking, product launches, and big discussions on the future of blockchain.

• Key Trends:

  • Real World Assets (RWA) and Tokenization: The buzz around tokenizing real-world assets was palpable, signaling a bridge between traditional finance and blockchain. Expect to see more moves towards tokenizing everything from real estate to commodities.

  • Decentralized AI: The fusion of AI and blockchain was a hot topic, with projects promising greater transparency and autonomy in AI operations through decentralized networks.

  • Community Sentiment: Crypto Twitter was alive with bullish takes on these trends, but there was also a healthy dose of skepticism. Some are watching closely for signs of a market peak as Solana's activities ramp up alongside these global events.

Solana Breakpoint Updates

Technological Advancements:

• Usernames on Phantom: Say goodbye to wallet addresses—Phantom now lets you create usernames, making the user experience far more personal and user-friendly.

• Solana Seeker: More than just a "memecoin phone," the Solana Seeker device made its debut, hinting at broader applications in the Solana ecosystem.

• zk Compression: The mainnet rollout of zk Compression is a big step towards better scalability and privacy on Solana, showing that the network is serious about handling higher transaction loads while keeping things private.

• GameFi : GameFi accessibility expands with projects like Play Solana Gen1.

Event Impact: Solana Breakpoint was packed with discussions around DePIN (Decentralized Physical Infrastructure Networks), sparking major interest from developers and investors.

CRYPTO CRIME BUSTED: ZACHXBT HELPS UNCOVER $243M SCAM 🚨

In a world where security is everything, ZachXBT, the crypto space’s Sherlock Holmes, has once again made headlines, this time uncovering a crypto scam involving over $230 million. Here's what you need to know:

The Scam:
Three cybercriminals—Malone Lam (aka Greavys), Veer Chetal (Wiz), and Jeandiel Serrano (Box)—orchestrated a complex social engineering attack, targeting a creditor of the now-defunct crypto lender Genesis.

The group posed as tech support from major companies like Google and Gemini, convincing the victim to lower their security defenses, including disabling two-factor authentication (2FA). This move gave the scammers access to the victim's funds, allowing them to siphon off a whopping $243 million in Bitcoin.

ZachXBT’s Investigation:
ZachXBT, known for his in-depth on-chain sleuthing, pieced together the scammers’ trail, identifying how they spoofed phone numbers to impersonate support staff.

Once inside, the attackers transferred the stolen Bitcoin across multiple exchanges, converting some into privacy coins like Monero (XMR) to cover their tracks. Thanks to ZachXBT’s collaboration with crypto forensic teams like zeroShadow and Binance Security, they managed to freeze $9 million and recover $500,000 for the victim.

The Arrests:
The investigation didn’t just end online. Malone Lam and Jeandiel Serrano were arrested in the U.S. and charged with conspiracy to commit wire fraud and money laundering. Their arrest even made headlines in the Miami Herald .

It's a win for blockchain forensics, proving that with enough determination and blockchain analysis, the bad actors in the space can be held accountable.

Community Impact:
This case serves as a wake-up call for the crypto community. It highlights how vulnerable even seasoned investors can be to well-executed social engineering attacks.

ZachXBT’s role in this bust shows the importance of blockchain investigation in tracking and recovering stolen funds, and his work has set a new precedent for transparency and justice in the crypto space.

As the legal proceedings continue, this story stands as a reminder of the importance of strong security practices and the risks involved in handling digital assets. While crypto offers freedom, it also demands vigilance.

Stay safe, Builders—protect your keys, enable that 2FA, and never trust unsolicited tech support!

DEAL FLOW FRIDAY 💸

It’s time for your weekly dose of fresh funding deals and emerging projects from across the Web3 landscape 👊 

Here's who got funded this week 👇️ 

1. The Open Network (TON)

   • What they do: A layer-1 blockchain focused on infrastructure, The Open Network (TON) continues to build out its ecosystem.

   • Funding: Raised $30M in an undisclosed round.

   • Backed by: Bitget and Foresight Ventures.

   • Why it matters: TON has been making waves in blockchain infrastructure, and this funding will likely accelerate its growth and partnerships.

2. Drift Protocol

   • What they do: A DeFi and DEX platform within the Solana ecosystem, enabling decentralized finance solutions with cutting-edge tech.

   • Funding: Raised $25M in a Series B round.

   • Backed by: Multicoin Capital, Blockchain Capital, and Folius Ventures.

   • Why it matters: As Solana continues to grow, projects like Drift Protocol are pivotal in driving decentralized trading and liquidity.

3. Helius

   • What they do: Providing data services and infrastructure within the Solana ecosystem, Helius is focused on empowering developers with better tools and resources.

   • Funding: Raised $21.75M in a Series B round.

   • Backed by: Heavy hitters like Haun Ventures, Founders Fund, and Foundation Capital.

   • Why it matters: With a strong backing, Helius is primed to become a major player in Solana's developer ecosystem.

4. Hemi Labs

   • What they do: Focused on scaling solutions across both the Bitcoin and Ethereum ecosystems, Hemi Labs works on building innovative layer-2 infrastructure.

   • Funding: Raised $15M in a seed round.

   • Backed by: Binance Labs, Breyer Capital, and Big Brain Holdings.

   • Why it matters: Layer-2 solutions are critical for scaling blockchains, and Hemi Labs is positioning itself to tackle congestion and scalability challenges head-on.

5. Permissionless Labs (Pipe Network)

   • What they do: Operating in the DePIN (Decentralized Physical Infrastructure Networks) space, with a focus on infrastructure and Solana ecosystem projects.

   • Funding: Raised $10M in an undisclosed round.

   • Backed by: Multicoin Capital.

   • Why it matters: As DePIN projects continue to grow, infrastructure-focused startups like Permissionless Labs will play a key role in shaping decentralized physical networks.

These are the latest deals in the Web3 world since last Friday…

Keep your hard hats on for these projects as they build toward reshaping DeFi, gaming, and decentralized infrastructure. 👷 

MEME CITY 🏙️ 

Until next time, Builders! 🏗️ 

Keep shipping, stay afloat, and ahead of the boats. 🚢