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Fogo halts mainnet after attacker receives 400 million FOGO tokens
The token amount involved is about 10% of FOGO’s circulating supply, and the halt is meant to block further movement while validators upgrade the network.
Fogo, a Layer 1 blockchain, halted its mainnet after an attacker received 400 million FOGO tokens, representing 10% of the token’s circulating supply, The Block reported. The network pause was announced about 15 hours after the Fogo Foundation described a “compromise” involving the transfers, and it came roughly within the hour before Fogo’s 12:29 p.m. ET announcement.
The Block said the affected tokens are about 4% of Fogo’s genesis supply and were valued at about $3 million at the time of the incident. Fogo stated the halt is intended to prevent further movement of the assets tied to unauthorized activity while validators upgrade the network.
Fogo did not provide a restart time or explain how the restrictions on the flagged addresses would work, according to The Block. The Foundation had previously said earlier on Friday that there was no impact to the Fogo blockchain operations, and it notified exchanges, law enforcement, and forensic specialists, though it has not detailed the attack vector or the specific targeted addresses.
The Block also reported that Bitget suspended FOGO deposits and withdrawals about an hour before Fogo’s first public disclosure, citing wallet maintenance. At the time, FOGO was trading near $0.0075, based on DefiLlama data referenced in the coverage.