Fogo blockchain halts mainnet after 400 million token theft

The Fogo Layer 1 blockchain temporarily halted its mainnet on August 29 following a security breach that resulted in the theft of approximately 400 million FOGO tokens. The stolen assets, valued at between $3 million and $3.88 million, represent about 4% of the total 10 billion token supply and over 10% of the circulating supply.

The Fogo Foundation reported that the incident was an infrastructure-level compromise of its own foundation-controlled wallets rather than a vulnerability in the blockchain's code or consensus mechanism. No user funds on the network were reported as impacted. To prevent further unauthorized movement of assets, the network was paused to allow validators to implement an upgrade.

In response to the breach, major cryptocurrency exchanges including Bitget, MEXC, and KuCoin suspended FOGO deposits and withdrawals. The Foundation has notified law enforcement and forensic specialists to investigate the attack vector and trace the stolen tokens.