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      Fogo Mainnet Remains Offline Following Theft of 400 Million Tokens

      Fogo's mainnet has been halted for approximately 46 hours after validators stopped the network in response to the theft of 400 million FOGO tokens from the Fogo Foundation. The network has not produced any blocks since Saturday afternoon, freezing nearly $1 million in deposits across four protocols. The Foundation has not provided a timeline for when the network will restart or details on how the theft occurred.

      The stolen tokens represent 10.3% of FOGO's circulating supply and are valued at around $2.9 million. Following the incident, FOGO's price dropped to $0.007333, reflecting a decline of 18.4% over the past week. The Foundation initially stated that the blockchain itself was unaffected, but later announced the halt as a precautionary measure to prevent further unauthorized activity.

      Fogo's mainnet RPC endpoint is currently returning errors, and on-chain balances have remained static since the halt. The Foundation plans to upgrade the network to restrict the addresses associated with the theft, but has not disclosed the specifics of the attack or the addresses involved. Meanwhile, trading of FOGO tokens continues on exchanges, although deposits and withdrawals have been disabled.

      This incident follows a weekend where another network, Cronos, also halted operations due to an exploit. The Fogo Foundation has not committed to a post-mortem analysis or a compensation plan for affected users, leaving stakeholders awaiting further updates.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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