FOMO Network has announced the immediate shutdown of its project after founder Ashley Ward cited health problems, financial pressure, and family concerns.
In a message posted to the project’s Telegram channel on May 16, 2026, Ward said months of extreme working hours had seriously affected his health. He also referenced an incident involving his son and said he could no longer continue operating the project as a single parent.
Ward confirmed that development, marketing, sponsorships, events, and platform operations would all stop immediately. He warned users not to buy the $FOMO token expecting future development, exchange listings, or price support.
A second Telegram update on May 17 confirmed there would be no relaunch and no token recovery effort.
FOMO Network originally launched in late 2023 as a Layer-1 blockchain project. It later attempted a relaunch after its 2024 token collapse, where the token price fell 99% after launch on Uniswap.
The project also faced losses connected to the December 2024 GemPad exploit, which drained liquidity pools across 27 affected projects.
The shutdown comes alongside renewed attention on previous allegations and investigations tied to Ashley Ward and his earlier crypto projects.