Weekend Wrap: Google sued over $5M scam app, Malaysia nabs illegal miners and more

Google allegedly dragged its feet when taking down a crypto scam app, allowing the app to do over $5 million in damage, according to a proposed lawsuit.

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Polygon announced that the migration of MATIC to POL tokens will take place on September 4. POL replaces MATIC as the native gas and staking token of the Polygon PoS network and will play a key role in the AggLayer. MATIC holders on Ethereum, Polygon zkEVM, and CEX may need to operate the migration. — link

Last week (August 12 to August 16, Eastern Time), Bitcoin spot ETFs had a net inflow of $32.58 million last week. Grayscale ETF GBTC had a net outflow of $195 million, Fidelity ETF FBTC had a net inflow of $82.11 million, and BlackRock ETF IBIT had a net inflow of $71.07 million. — link

Last week (August 12 to August 16, Eastern Time), Ethereum spot ETFs had a net outflow of $14.16 million. Grayscale ETF ETHE had a net outflow of $118 million, BlackRock ETF ETHA had a net inflow of $76.35 million, and Fidelity ETF FETH had a net inflow of $25.79 million. — link

75% of all Bitcoin has been hodled for over 6 months

Despite Bitcoin dropping 21% from its all-time high, the majority of Bitcoin held in wallets hasn't been sold or moved for the last six months.

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Vitalik transferred 400 ETH (worth about $1.06m) to the new address: 0x18...F10E at 12:06 UTC+8 today. Vitalik transferred 1 ETH to 0x18...F10E yesterday, and then deposited 0.998 ETH into the mixer Railgun. Previously, Vitalik said that Railgun can effectively prevent malicious actors and protect user privacy. — link

ETHGlobal announced the list of winning projects of SuperHack 2024, including the gas-free game Tamayoshi, the social graph ChooseADelegate, the Discord payment robot Century Pay, EthDrive similar to Google Drive, the Farcaster on-chain reputation game Kiss or Slap, and the on-chain AI art game DrawDash. — link

Investor and Coinbase's first CTO Balaji Srinivasan announced the establishment of an innovative university, THE NETWORK SCHOOL, on an island near Singapore, focusing on Learn, Burn, Earn and Fun. The project aims to provide new educational opportunities for "Dark Talent" around the world. — link

HashKey Group announced that TON mini-game Catizen became its first Web3 partner, and disclosed that less than 150 days after Catizen went online, global users have exceeded 29 million, with DAU reaching a maximum of 3.5 million, on-chain users exceeding 1.8 million, and Telegram Premium users exceeding 2.1 million. — link

Since Telegram users do not need KYC, there may be a large number of fake users who repeatedly try to get airdrops

Man allegedly tries to ‘recover’ losses from BitConnect, kidnapping two

Indian authorities have arrested a man for allegedly kidnapping two employees of BitConnect creator Satish Kumbhani and extorting $125 million in crypto.

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According to CoinShares, digital asset investment products received a total inflow of $30 million last week, with $42 million flowing into Bitcoin and only $4.2 million flowing into Ethereum. Due to a sharp drop in Memecoin trading volume, Solana had a net outflow of $39 million, setting a record for the highest weekly outflow. — link