The village just got electricity, and we found out that @fogo revealed their foundation wallet was hacked, losing 400 million FOGO tokens. Newbies might not be too familiar with the Fogo chain, so here’s a quick crash course. Fogo was once hyped as the SVM public chain faster than the speed of light. It launched a token sale with a $1 billion valuation, but the community wasn’t buying it, so they had to cancel. Just 7 months after TGE, the on-chain TVL has already dropped below $1 million. The timing of this hack is pretty interesting: Echo investors’ tokens with a 1-year cliff are set to unlock next month, and now this happens. Those who believed in Fogo and joined the Echo round back then are really getting dragged through the mud now.