Everything you need to know about Layer 1. Read our latest news and technical analysis to understand its market impact.
Layer 1 blockchain Fogo halted its mainnet after an attack led to the unauthorized transfer of 400 million FOGO tokens, representing 10% of the circulating supply and valued at $3 million. The compromised tokens also account for 4% of the network's genesis supply.
Andre Cronje, Michael Kong, and David Richardson have resigned from the Sonic Labs board of directors, the Layer 1 network formerly known as Fantom. This move coincides with a 97% drop in the S token from its all-time high and a 5% decline post-announcement. Matt Visser has been appointed CEO, replacing Mitchell Demeter. The restructuring raises questions about the project's strategic direction and market confidence.
