HLG Down Over 60% as Exploiter Mints 1 Billion New Tokens
Summary
The Holograph protocol's native token (HLG) dropped by up to 60% following an exploit that allowed a malicious actor to mint 1 billion HLG tokens. The team is investigating the incident and has contacted law enforcement. The Holograph protocol facilitates a single contract address across all EVM blockchains, ensuring consistent tokenization, seamless interoperability, and secure cross-chain asset transfers. The 1 billion HLG tokens stolen are worth over $6.7 million at current market prices. On-chain data indicates that the ENS wallet acc01ade.eth, which is also a project contributor, was involved in the exploit. The account, described as a "super shadowy coder" based in Paris, did not respond to CoinDesk's request for comment.
