$FOGO On Saturday, it paused its network. About 15 hours earlier, the $Fogo Foundation said the attacker had obtained 400 million $FOGO tokens, which at the time were worth about $3 million. The pause was issued within an hour before the announcement at 12:29 p.m. Eastern Time from $Fogo, with the aim of preventing affected assets from moving further while validators upgraded the network. The project did not provide a restart time or detailed information on the restriction measures. In a Friday 9:13 p.m. Eastern Time announcement, the foundation said an unidentified actor had breached the organization and sent the 400 million tokens to a “malicious actor,” and that exchanges, law enforcement, and forensic experts had been notified. The 400 million tokens represented 4% of $FOGO ’s 10 billion token genesis supply, and exceeded 10% of its current circulating supply. DefiLlama showed that at the time, the $FOGO price was close to 0.0075, or about $3 million in value. Bitget paused $FOGO deposits and withdrawals about an hour before $Fogo’s first public disclosure due to wallet maintenance, and KuCoin later announced a similar pause. $Fogo launched its mainnet in January after a $7 million round of Binance token sales, valuing the project at $350 million. The project positions itself as a high-speed Layer 1, targeting 40 millisecond block times and reducing exposure to MEV.
Polygon Labs issued an emergency notice stating that after the Austin and Kyoto hard forks were activated, Polygon PoS nodes that are still running older versions of Bor or Heimdall have fallen out of consensus and need to upgrade their clients to catch up with the network. Austin was activated at mainnet block 91,949,700; nodes must run Bor v2.10.0 or higher. Kyoto was activated at block height 51,533,000; nodes must run Heimdall v0.11.0 or higher. Austin fixed two categories of Bor resource exhaustion risks: L1-to-L2 bridge state synchronization events were not included in the Gas limit, which could slow down block processing; the TxDependency field lacks a size limit, which could cause peer nodes to crash. $POL
Jiang Zhuoer wrote that on Friday, Bitcoin spot ETF net outflows amounted to $202 million, ending a streak of nine consecutive days of net inflows. Meanwhile, Ethereum spot ETFs remain strong, with continued net inflows of $102 million. He believes that after this round of sharp gains, the market has a large number of bearish trapped positions and profit-taking sell orders from the bottom. Whether prices can hold at high levels depends on whether there is enough buy-side capital to absorb supply, and ETF flows and the Coinbase premium are key indicators to watch in assessing capital follow-through. Jiang Zhuoer added that Fed Chair Waller’s relatively hawkish remarks have a major impact on the market, causing key Friday ETF data to turn negative and further weakening the weekend outlook. Currently $BTC is facing its first test since the rally began; a drop early in the morning may signal the start of a broader downtrend. He has sold 50% of his $ETH spot holdings during the decline and will continue to monitor weekend price action.
Over $64 million flowed into Blokyz NFT sales within 24 hours, but the company refunded most of the funds, keeping less than $600,000. Blokyz is a Web3 collectibles company that makes physical resin statues. It launched a set of 10,000 Original Blokyz on Ethereum, and reserved 7,500 NFTs for a public raffle, priced at 0.03 $ETH (about $75) each. Each wallet could enter an unlimited number of times. Entries that did not win would receive refunds. Even if there were already enough entries, the raffle remained open for 24 hours. By the end, 22,443 wallets submitted 853,964 entries, promising a total of 25,618.92 $ETH (about $64.4 million)—with an average of 114 entries per potentially claimable NFT. Only 7,500 winning entries could be settled. At 0.03 $ETH each, Blokyz could only retain 225 $ETH (about $566,000), meaning most of the funds were temporarily queued for refunds. The current trading price of tokens held by winners is roughly five times the mint price, and it appears that most winners already held the tokens. Based on the retained funds, this is far below top minting projects like Yuga Labs (about $410 million). But based on the queued refund amount, it could set a record; however, public rankings do not track this metric. The overall NFT market is still relatively small (about $2 billion, versus $1.6 trillion for Bitcoin), so this weekend’s spike is not necessarily a bullish signal for the market overall. So far, 22,000 people have received refunds—will they spend again?
Cardone Capital posted on X on August 28 that Grant Cardone said the company has added approximately 1,200 bitcoins and about 2,000 multi-family residential units to its real-estate-backed bitcoin strategy. He said the $5.3 billion company is "increasing its commitment" to its multi-family and bitcoin model. Cardone did not disclose the purchase price of the bitcoin, the execution dates, or which funds received the bitcoin. The company uses rental cash flows from income-producing apartments to continue buying bitcoin via a dollar-cost-averaging approach. Some selected private placement vehicles can allocate 15% to 50% of capital to digital currencies; investors receive an equity interest in the vehicle, while a third-party custodian is responsible for asset custody and trade execution. Cardone’s goal is to hold a total of 10,000 bitcoins across 10 funds. He previously reported holding about 1,000 bitcoins in January, including 282 bitcoins (about $18 million) purchased earlier and 130 bitcoins (about $9.7 million).
$HOOD Wang Xiaoqi: Robinhood Chain is one of the few incremental markets in the crypto space right now, and there are certain opportunities with on-chain market leaders
Yesterday (Aug 28, US Eastern Time), spot Ethereum ETFs saw net inflows of $102 million. The spot Ethereum ETF with the highest single-day net inflows was BlackRock’s ETF ETHA, with single-day net inflows of $83.7915 million. Currently, ETHA’s cumulative historical net inflows total $12.737 billion. Second was BlackRock’s Staked $ETH ETF ETHB, with single-day net inflows of $42.6441 million. Currently, ETHB’s cumulative historical net inflows total $694 million.