Holograph Protocol's Native Token Plummets 60% After Exploit Allows Attacker to Mint 1 Billion HLG Tokens

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Cointime2024/06/14 01:25

By:Cointime

The Holograph protocol's native token has experienced a significant drop of over 60% following an exploit that allowed an attacker to mint 1 billion HLG tokens. The wallet acc01ade.eth is suspected to have been involved in the exploit, and a contributor to HLG with the same handle is listed on a Github page. The protocol has launched an investigation and is in the process of contacting law enforcement. The Holograph protocol facilitates consistent tokenization, interoperability, and secure cross-chain asset transfers across all EVM blockchains. The value of the 1 billion HLG tokens that were taken by the exploiter is currently worth slightly over $6.7 million.

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