On August 29, the Fogo L1 blockchain team halted the mainnet and initiated a network upgrade after an unknown party obtained 400 million FOGO tokens, representing over 10% of the current circulating supply.
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…
— Fogo (@fogo) August 29, 2026
“The halt is being initiated to prevent further movement of the affected assets,” the statement said.
The project stated that the upgrade is necessary to restrict addresses associated with the unauthorized activity. No timeline for the restart was provided, and the team did not specify how the restrictions would work.
Approximately 15 hours before the network halt, the Fogo Foundation reported a compromise within the organization. According to the foundation, a “malicious party” obtained 400 million FOGO tokens. At that time, the foundation claimed the blockchain’s operation was unaffected.
The project did not disclose the attack vector or specify which addresses were affected. The 400 million FOGO tokens represent 4% of the genesis supply of 10 billion tokens and over 10% of the circulating market volume. According to CoinGecko, at the time of the incident, FOGO was trading at approximately $0.0075, valuing the package at around $3 million.
About an hour before the project’s first public announcement, Bitget suspended FOGO deposits and withdrawals, citing wallet maintenance. Later, KuCoin announced a similar measure, as noted by The Block.
The Fogo mainnet launched in January 2026 following a token sale on Binance that raised $7 million, valuing the project at $350 million. The project promotes itself as a high-speed L1 blockchain for on-chain trading with a block time of 40 ms and reduced MEV impact.
Earlier, on August 25, Cosmos Labs urged the suspension of networks using the Cosmos EVM module. At that time, three blockchains had already been attacked. The company later admitted it had mistakenly considered the vulnerability insufficiently dangerous.
