Fogo Blockchain Halts Mainnet After $3 Million Token Theft
Network pause follows security breach
The Fogo blockchain stopped its mainnet on Saturday after a hacker stole 400 million FOGO tokens. The tokens were worth about $3 million at the time of the attack. The halt came roughly 15 hours after the Fogo Foundation first announced that an unknown actor had compromised its systems. The project stated that the pause is intended to prevent further movement of the stolen assets while validators upgrade the network to restrict addresses linked to the unauthorized activity.
Key details of the incident
- The Fogo Foundation notified exchanges, law enforcement, and forensic specialists about the compromise.
- The stolen tokens represent 4% of the total initial supply and more than 10% of the current circulating supply.
- Bitget and KuCoin suspended FOGO deposits and withdrawals shortly after the announcement.
- Fogo described itself as a high-speed Layer 1 blockchain designed for onchain trading, targeting 40-millisecond block times.
What the Foundation said
In a Friday evening post, the Foundation claimed the blockchain operations were unaffected by the hack. However, the organization has not yet disclosed the specific method used in the attack or identified which wallet addresses were targeted. No restart date for the mainnet has been provided.
Why this matters for investors
Major crypto exchanges have reacted quickly to the security breach. Bitget acted about an hour before Fogo’s public disclosure, listing the reason as wallet maintenance, while KuCoin followed with a similar suspension. The halt disrupts the network’s claimed 100% uptime record, which was featured in a March guide on the project’s website.
