Fogo Halts Mainnet After Attacker Receives 400 Million FOGO Tokens
Layer-1 chain Fogo paused its mainnet after an attacker received 400 million FOGO tokens — about 10% of circulating supply — with the project disclosing no attack vector and no restart timeline.
Fogo shut down its mainnet on Saturday. The move came after the Layer 1 blockchain project said an attacker had received 400 million FOGO tokens, an amount equal to roughly 10% of circulating supply.
Those 400 million tokens make up about 4% of Fogo’s 10 billion token genesis allocation. At the time, with FOGO trading near $0.0075, the haul was worth approximately $3 million, according to DefiLlama data cited by The Block.
The Fogo Foundation went public Friday at 9:13 p.m. ET with a post on X. The organization said it had been compromised and that 400 million FOGO had been sent to “a bad actor.” Exchanges, law enforcement and forensic specialists were notified, the Foundation said.
The mainnet did not go down until roughly 15 hours later. Fogo said the pause would allow validators to upgrade the network and prevent further movement of affected assets. No restart time was given. The project also did not explain how the upgrade restrictions would function.
That initial Foundation post struck a reassuring tone. “There is no impact to the Fogo blockchain, which continues to operate as normal,” the organization wrote. The statement held until Saturday afternoon, when the mainnet stopped.
Fogo has not disclosed the attack vector. It has not identified the targeted addresses. The project framed the incident as an organizational compromise rather than a protocol-level exploit, but offered no detail on how the 400 million tokens were obtained.
Bitget suspended FOGO deposits and withdrawals about an hour before Fogo’s first public disclosure. The exchange cited wallet maintenance, The Block reported. KuCoin announced a similar suspension afterward. Neither exchange tied the move to the incident.
The mainnet launched in January 2026, following a $7 million token sale on Binance at a $350 million valuation. Fogo markets itself as a high-speed Layer 1 built for onchain trading, with a target of 40-millisecond block times and reduced exposure to maximal extractable value (MEV).
A March guide on the Fogo website claimed the mainnet had maintained 100% uptime since launch. That claim had not been updated after Saturday’s halt.
