On August 29, the Fogo L1 blockchain team temporarily halted its mainnet after spotting unauthorized activity. According to the project's statement, “the pause is being initiated to prevent any further movement of affected assets.” While the network is down, the team has kicked off a network upgrade.

What Happened

An unknown actor managed to get their hands on 400 million FOGO tokens—over 10% of the current circulating supply. In response, the team hit pause on the mainnet to stop any more movement of those tokens until they finish their work.

Team's Response

During the downtime, Fogo is rolling out a mainnet upgrade. The team says this move is meant to clamp down on the fallout from the unauthorized activity and keep tabs on the affected assets. Once everything's locked down, they plan to bring the network back online.