Fogo Mainnet Halted After Foundation Wallet Compromise Leads to 400 Million FOGO Theft

The Solana Virtual Machine (SVM)-based L1 blockchain Fogo suspended its mainnet on August 29 after detecting unauthorized activity in a foundation-controlled wallet. Approximately 400 million FOGO tokens, representing 4% of the total supply and valued between $3 million and $3.88 million, were stolen. The FOGO token price dropped nearly 20% following the news. The foundation clarified that the breach was limited to internal wallet infrastructure and that user funds and the protocol itself remain secure. Efforts are underway with exchanges and forensic exper