No hack is proven. In August 2026 an X account claimed about $6M in losses from a Fomo iOS update. Fomo’s co-founder denied it, and Protos confirmed the cited 662 SOL transfer but did not show that Fomo caused it. FomoPeek, a different iOS app, had malicious code in September 2026.

Who owns the Fomo app?

FOMO Labs, Inc. runs Fomo, according to its terms. Co-founders Paul Erlanger and Se Yong Park, both formerly at dYdX, launched it in May 2025, according to TechCrunch. Benchmark led a $17M Series A, and Index Ventures led a $75M Series B.

How do I withdraw money from Fomo?

Fomo’s FAQ says you withdraw to a linked bank account, and the money arrives within 3 business days. Our Fomo app review covers the fees and the rest of the app.

Is Fomo app legit and safe? Yes, with caveats

Key takeaways

Yes, the Fomo app is legit: FOMO Labs, Inc. runs it, it is rated 4.8 from 25K App Store ratings, and Locke traded on it with real money for months.

Fomo’s terms say Privy generates your wallet, the wallet is non-custodial, and you can view and export your private keys, so you can move your funds out without Fomo.

An August 2026 claim of about $6M in losses from a Fomo iOS update is disputed: Fomo denies it, and Protos did not show that Fomo caused a loss. Keep only trading money in the app.

Yes, the Fomo app is legit: FOMO Labs, Inc. runs it, and Locke traded on it with real money for months, most recently in October 2026. Your wallet is non-custodial with key export, but an August 2026 loss claim is still disputed, so keep only trading money in the app. For fees, features and our 3.8/5 score, read our Fomo app review.

How it works

A trading app is legit when a real company runs it and you control your own keys. Fomo’s terms of service (opens in a new tab) describe a self-custody wallet: Privy, a third-party wallet provider, generates it, and you can view and export your private keys. So you can move your funds to another wallet without Fomo.

Check	What we found
Company	FOMO Labs, Inc.: $17M Series A led by Benchmark (Nov 2025), $75M Series B led by Index Ventures (Jun 2026)
Wallet	Non-custodial, generated by Privy, with private key export
App Store	Seller FOMO Labs Inc., rated 4.8 from 25K ratings, age 18+
Funding and chains	Apple Pay; Solana, Base, BNB Chain, Ethereum, Robinhood Chain and Monad
Fees	About 0.5% per trade (reported); check the fee on the confirm screen

Sources: Fomo terms (opens in a new tab), App Store listing (opens in a new tab), TechCrunch report (opens in a new tab), The Block report (opens in a new tab).

The August 2026 loss claim

On 23 August 2026, an X account claimed that a Fomo iOS update caused about $6M in user losses, and named one wallet that lost 662 SOL. Co-founder Prashan Dharmasena called the claim false. He said the wallet had no transaction signed by Fomo’s fee payer.

Protos (opens in a new tab) confirmed that the 662 SOL moved, but did not show that Fomo caused it. ZachXBT linked the accusing account to Zkasino. On 14 October 2026, we found no independent investigation or public result.

Do not confuse Fomo with FomoPeek, a different iOS app. In September 2026, SlowMist found malicious code in FomoPeek versions 1.1 and 1.2, according to Cointelegraph (opens in a new tab). Before you install, check that the seller is FOMO Labs Inc.

Can you withdraw from Fomo?

Yes. Fomo’s withdrawal FAQ (opens in a new tab) says you can withdraw to a linked bank account, and the money arrives within 3 business days. Your first withdrawal can need extra checks, and large amounts can get a review. The FAQ does not state a withdrawal fee, so check the fee in the app.

What to do next

You want to try Fomo: sign up with code Iocke (capital I). Fomo’s in-app invite says friends get 10% off trading fees. The Fomo referral code page has the details.
You want a desktop terminal with more controls: Fomo also has a web terminal. See how it compares with Axiom in Axiom vs Fomo.
You prefer to wait until the claim is settled: pick another app from our Fomo alternatives list.

Open Fomo with 10% off feesCode Iocke (capital I) is in the link

Bottom line

Fomo is a real app from a funded company, and its terms let you export your keys and move your funds out without Fomo. The August 2026 claim is still open, so keep only trading money in Fomo and check the fee on the confirm screen. If this is your first buy, start with our guide to buying memecoins.

Frequently asked questions

It is safe enough for trading money. Fomo’s terms say Privy generates your wallet, the wallet is non-custodial, and you can export your private keys. An August 2026 loss claim is disputed and unresolved, so keep only trading money in the app.