Omnichain tokenization platform Holograph’s native token, HLG, fell nearly 80% in value following a recent hack.
The malicious actor exploited a vulnerability in the protocol’s operator contract, minting 1 billion HLG tokens that were initially valued at approximately $14.4 million.
The Holograph Exploit
Holograph confirmed the breach on their X account, assuring users that the initial exploit has been patched and efforts are underway with cryptocurrency exchange partners to freeze the hacker’s accounts.
The Holograph Operator contract has been exploited by a malicious actor, enabling the hacker to mint 1 billion additional HLG
The team has patched the initial exploit & is working with exchange partners to lock the malicious accounts
The team has launched an investigation & is…
— Holograph (@holographxyz) June 13, 2024
They added that the team has launched an investigation and is in the process of contacting law enforcement.
According to data from Etherscan, the brea
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