POPA ReconFogo Halts Mainnet After $3M Foundation Hack
Fogo Halts Mainnet After $3M Foundation Hack Fogo, a high-speed SVM Layer 1 built for onchain trading, halted its mainnet after an attacker received 400 million FOGO tokens worth roughly $3M. That is 4% of the 10 billion genesis supply and more than 10% of the circulating float. The Fogo Foundation said an unknown actor compromised the organization and sent the tokens to a bad actor, insisting at first that there was no impact to the blockchain, which "continues to operate as normal." The network was halted within the hour anyway, about 15 hours after the initial disclosure, so validators co…
The excerpt is quoted from a public Telegram channel, which owns its text.