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Fogo mainnet stopped for 46 hours after 400 million FOGO theft
The halt froze positions tied to four protocols that hold $987,291 in deposits and includes an upgrade to restrict addresses linked to the incident.
Fogo says its mainnet has not produced a block since Saturday afternoon, about 46 hours after validators stopped the network following the theft of 400 million FOGO tokens from the Fogo Foundation, The Defiant reports. The Foundation has not provided a restart timeline, details on how the network was compromised, or which addresses received the stolen tokens.
The shutdown froze activity across the chain, including $987,291 in deposits spread across four protocols, according to the report. The Foundation said its only published next step is to upgrade the network so addresses associated with the incident are restricted, using the fact that seven operators run its voting validator set.
The stolen amount totals 10.3% of FOGO's 3.88 billion circulating supply and 4% of the 10.05 billion in existence, worth about $2.9 million at Monday's price, the outlet notes. During the halt, FOGO traded around $0.007333, down 3% over 24 hours and 18.4% over seven days, per CoinGecko data cited in the article.
The report also highlights earlier Foundation updates: the Aug. 28 post said the blockchain itself was unaffected while exchanges were alerted and law enforcement and forensic experts were engaged. Fifteen hours later, the Foundation said the mainnet was temporarily halted to prevent further movement of affected assets, with the upgrade intended to restrict incident-linked addresses, but it has not said when the network will restart.