Fogo Mainnet Has Been Stopped For 46 Hours With No Restart Timeline
The chain has produced no blocks since Saturday, the halt notice is still the Foundation's most recent update, and an impersonator account is circulating a fake compensation vote. Fogo's mainnet has not produced a block since Saturday afternoon, roughly 46 hours after validators stopped the network in response to the theft of 400 million FOGO tokens from the Fogo Foundation.
Why It Matters
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Key Facts
- Fact 1: Fogo's mainnet has not produced a block since Saturday afternoon, roughly 46 hours after validators stopped the network in response to the theft of 400 million FOGO tokens from the Fogo Foundation.
- Fact 2: The halt has frozen every position on the chain, including $987,291 of deposits across four protocols, and the Foundation has not said when the network will restart, how it was compromised, or which addresses received the tokens.
- Fact 3: The 400 million tokens are 10.3% of FOGO's 3.88 billion circulating supply and 4% of the 10.05 billion in existence, worth about $2.9 million at Monday's price.
- Fact 4: FOGO traded at $0.007333, down 3% over 24 hours and 18.4% over seven days, for a market capitalization of $28.5 million and a fully diluted valuation of $73.7 million, according to CoinGecko.
The chain has produced no blocks since Saturday, the halt notice is still the Foundation's most recent update, and an impersonator account is circulating a fake compensation vote. Fogo's mainnet has not produced a block since Saturday afternoon, roughly 46 hours after validators stopped the network in response to the theft of 400 million FOGO tokens from the Fogo Foundation.
The halt has frozen every position on the chain, including $987,291 of deposits across four protocols, and the Foundation has not said when the network will restart, how it was compromised, or which addresses received the tokens. Its only published plan is to upgrade the network so those addresses are restricted, an action available to Fogo because seven operators run its voting validator set. The 400 million tokens are 10.3% of FOGO's 3.88 billion circulating supply and 4% of the 10.05 billion in existence, worth about $2.9 million at Monday's price.
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