Fogo Mainnet Halted Amid Unauthorized Activity and 400M Token Transfer

Fogo, a cryptocurrency project, halted its mainnet on August 29 after detecting unauthorized activity linked to a compromised wallet. The incident involved an unknown attacker transferring 400 million FOGO tokens, which represents about 4% of the project's total 10 billion supply and roughly 13.2% of the foundation's allocation.

The affected tokens have a value of around $3.88 million at current prices of approximately $0.007628 per token. The blockchain itself was not compromised before the halt, but the network was paused as the team worked to contain the incident and assess the extent of the compromise.

Fogo plans to upgrade the network and restrict addresses linked to the incident. The foundation urged users to rely on official channels for updates and avoid unverified information.