FOGO restarts mainnet after security incident, burns 237 million recovered tokens

  • FOGO restarted mainnet block production and said the network was operating normally after the Aug. 29 theft of 400 million tokens.
  • The project recovered and permanently removed 237 million stolen FOGO from total supply, leaving 163 million subject to recovery efforts.
  • Before restarting, the halt froze $987,291 across four protocols as exchanges restricted FOGO deposits and withdrawals while trading continued.

FOGO, a Solana Virtual Machine (SVM) layer-one chain, has restarted its mainnet and said the network is operating normally after validators halted block production following the theft of 400 million FOGO tokens from the Fogo Foundation. Of that amount, 237 million tokens were recovered and permanently removed from total supply, while the project is working with centralized exchanges and law-enforcement agencies to recover the remaining 163 million as its investigation continues. Fogo has not disclosed how the Foundation was compromised, how the recovered tokens were secured, or the process used to remove them from supply. Before the restart, the Aug. 29 halt froze about $987,291 across four protocols, while Bitget, KuCoin and Gate restricted FOGO deposits and withdrawals but kept trading available. The stolen tokens represented about 10.3% of FOGO's 3.88 billion circulating supply and roughly 4% of the roughly 10 billion tokens in existence, and were worth about $2.9 million to $3 million near the halt, when FOGO traded around $0.0073–$0.0075. Fogo's seven-operator voting-validator structure enabled the coordinated halt, while the network markets 40-millisecond blocks and reduced exposure to maximal extractable value.

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