EddieJayonCrypto

 14 Jun 24

tl;dr

The native token of the Holograph protocol, HLG, has dropped over 60% due to an exploit allowing an attacker to mint 1 billion HLG tokens. On-chain data links the wallet acc01ade.eth to the exploit, and a contributor with the same handle is listed on a Github page. The protocol is conducting an inve...

The native token of the Holograph protocol, HLG, has dropped over 60% due to an exploit allowing an attacker to mint 1 billion HLG tokens. On-chain data links the wallet acc01ade.eth to the exploit, and a contributor with the same handle is listed on a Github page. The protocol is conducting an investigation and reaching out to law enforcement. The Holograph protocol facilitates a single contract address across all EVM blockchains, ensuring consistent tokenization and secure cross-chain asset transfers. The 1 billion HLG stolen is valued at over $6.7 million at current market prices. The ENS wallet acc01ade.eth is implicated in the exploit, and a Github page suggests the individual is a contributor to the project. The Github page describes the individual as a "super shadowy coder" based in Paris and did not respond to a request for comment. The native token of the Holograph protocol is down over 60% after an exploit allowed an attacker to mint 1 billion HLG. On-chain data suggests that the wallet acc01ade.eth was involved with the exploit, and a Github page lists an individual with the same handle as a contributor to HLG. The native token of the Holograph protocol (HLG) was down as much as 60%, according to CoinGecko data, after a malicious actor ran an exploit that allowed them to mint 1 billion HLG tokens. "The team has launched an investigation & is in the process of contacting law enforcement," the protocol posted on its X page. The 1 billion HLG that the exploiter absconded with is worth slightly more than $6.7 million at current market prices. On-chain data suggests that the ENS wallet acc01ade.eth was involved in the exploit. A Github page suggests that they are also a contributor to the project. A page with the same name describes itself as a "super shadowy coder" based in Paris. The account did not respond to a request for comment by CoinDesk.

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 9 Nov 24
 9 Nov 24
 8 Nov 24