Fogo restarts after 237M token recovery

• Fogo has restarted its mainnet after 400 million FOGO tokens were stolen in a security incident.
• The project recovered and permanently removed 237 million FOGO from supply, leaving 163 million unrecovered.
• Fogo is working with exchanges and law enforcement while its investigation continues.

Fogo has restarted its mainnet after recovering 237 million Fogo (CRYPTO:FOGO) tokens from a 400 million-token theft.

The network was halted on 29 August after the Fogo Foundation was compromised, with validators upgrading the network to restrict further movement of the affected tokens.

Fogo said it is continuing to work with centralised exchanges and law enforcement to recover the remaining affected assets.

The recovered 237 million FOGO tokens were permanently removed from supply, leaving 163 million from the original theft unrecovered.

The stolen tokens represented 4% of Fogo’s 10 billion genesis supply and more than 10% of its circulating supply at the time.

FOGO traded near US$0.0075 when the network halted, putting the stolen tokens at about US$3 million based on DeFiLlama data.

Fogo has not disclosed how the Foundation was compromised or how the recovered tokens were secured, with its investigation still underway.