Fogo Halted After $3M Token Theft From Foundation Wallet

Fogo's mainnet has been halted after an unauthorized actor stole 400 million FOGO tokens worth approximately $3 million from the Fogo Foundation. The token theft, which occurred on August 26, represents about 4% of the total genesis supply and roughly 10% of circulating tokens.

The Foundation initially disclosed the transfer late Friday, stating that the compromise affected the organization while the blockchain continued operating normally. Fifteen hours later, Fogo temporarily halted its mainnet to prevent further movement of the affected assets.

Validators are preparing a network upgrade designed to restrict addresses linked to the unauthorized activity before normal operations resume. The Foundation has not identified the attack vector or characterized the event as a vulnerability in Fogo's underlying consensus or execution software.