Fogo halted its mainnet after detecting unauthorized activity linked to a compromised wallet, with an unknown attacker transferring 400 million FOGO tokens, according to the Fogo Foundation.
The foundation announced the incident on X early Aug. 29 and said it had alerted cryptocurrency exchanges. Law enforcement and forensic experts are also investigating the breach.
The foundation said the blockchain itself was not affected before the halt. The network was paused as the team worked to contain the incident and assess the extent of the compromise.
Fogo Investigates Wallet Breach
The 400 million FOGO tokens represent about 4% of the project’s total 10 billion supply and roughly 13.2% of the foundation’s allocation. FOGO traded at about $0.007628, down 6% over 24 hours, putting the value of the affected tokens at roughly $3.88 million.
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Fogo plans to upgrade the network and restrict addresses linked to the incident. The foundation urged users to rely on official channels for updates and avoid unverified information.
Security Pressure Hits Crypto
The breach adds to a growing list of crypto security incidents this year. Blockaid reported more than $1.1 billion in losses across 212 incidents during the first half of 2026.
CertiK reported $1.31 billion in losses across 344 incidents during the same period. Wallet attacks and breaches of crypto infrastructure continued to account for a large share of the damage.
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