- Fogo said the Fogo Foundation had been compromised and 400 million FOGO, worth about $3 million, was sent to an attacker.
- The team halted the network to prevent further movement of the affected assets.
- More than two days after the incident was disclosed, the blockchain remained offline and the team had provided no additional details.
Developers of the Fogo Layer 1 blockchain said they had temporarily halted the network after reports emerged that the Fogo Foundation had suffered a cybersecurity incident involving 400 million FOGO.
Fogo announced the halt on August 29, 2026, describing it as a precautionary measure following the detection of unauthorized activity:
In the last hour the Fogo Mainnet has been temporarily halted as a precautionary measure following the detection of unauthorized activity.
The halt is being initiated to prevent further movement of the affected assets. During the halt, the network will be upgraded to restrict…
Information about the incident surfaced early on the morning of August 29. The post said the Fogo Foundation had been compromised and that 400 million FOGO was “sent to the attacker.” The tokens were worth about $3 million.
The team did not disclose details of the incident but said it had contacted law enforcement and onchain experts. The post emphasized that the blockchain itself was not affected and supposedly “continues to operate.”
Later that afternoon, however, the team said the network was offline. It said the halt was intended to limit any further movement of the affected assets. At the time of writing, more than two days after the disclosure, the team had not provided any new details.
Fogo is an SVM-based Layer 1 blockchain that runs on the Firedancer client. Its mainnet launched in January 2026.
According to Token Unlocks, FOGO has a maximum supply of 10 billion tokens, and the Fogo Foundation’s allocation represented 30.38%.
This suggests the attacker gained access to 4% of the maximum supply and about 10% of the circulating supply, based on CoinMarketCap data. FOGO fell from $0.009 to $0.0074 by the time of writing.
FOGO/USDT rate on Binance. Source: TradingView.
About an hour before the report concerning the Fogo Foundation compromise, Bitget announced that it had suspended deposits and withdrawals on the network, allegedly for technical reasons. KuCoin later did the same.
Previously, the Tectonic protocol was hacked for up to $75 million, leading to the Cronos Network blockchain being halted.
Source: Incrypted
