Fogo Foundation Reports 400M FOGO Token Compromise and Mainnet Halt
Fogo Foundation disclosed an unauthorised transfer of 400 million FOGO tokens, prompting a mainnet halt on August 29 and deposit suspensions at Bitget and KuCoin.
Fogo Foundation reported that an unknown actor compromised the organisation and transferred 400,000,000 FOGO tokens. The tokens equal roughly 4 percent of the 10 billion genesis supply and more than 10 percent of circulating supply, valued near $3 million at the time of the transfer.
Mainnet Halt and Validator Upgrade
Mainnet operations stopped on August 29 to block further movement. Validators are scheduled to apply a chain upgrade that restricts addresses tied to the activity. No technical root cause or resumption timeline has been disclosed.
Exchange Suspensions
Bitget suspended FOGO deposits and withdrawals at 00:10 UTC on August 29 for wallet maintenance. KuCoin implemented a similar temporary suspension citing essential maintenance. Exact circulating supply and final loss amount remain unconfirmed.