Fogo Mainnet Halted After Massive Token Theft

The Fogo mainnet has been offline since Saturday afternoon. Validators halted the network after discovering that 400 million FOGO tokens were stolen from the project foundation. It has been 46 hours since the last block was produced, and the team has not shared a clear timeline for when the chain will restart.

This stoppage means that every user position on the network is currently frozen. Reports indicate that nearly one million dollars in deposits across four decentralized finance protocols are inaccessible while the chain remains dark.

Investors and users are waiting for updates on how the foundation plans to recover the stolen assets and secure the network. For now, all on chain activity is at a complete standstill until the validators determine it is safe to resume operations.