EddieJayonCrypto
14 Jun 24
The native token of the Holograph protocol, HLG, has plummeted over 60% due to an exploit that allowed an attacker to mint 1 billion HLG tokens. On-chain data indicates the involvement of the wallet acc01ade.eth in the exploit, and a contributor with the same handle is listed on a Github page. The p...
The native token of the Holograph protocol, HLG, has plummeted over 60% due to an exploit that allowed an attacker to mint 1 billion HLG tokens. On-chain data indicates the involvement of the wallet acc01ade.eth in 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 consistent tokenization and secure cross-chain asset transfers across all EVM blockchains. The exploit resulted in the absconding of HLG tokens worth over $6.7 million at current market prices. The individual associated with the wallet and the exploit is described as a "super shadowy coder" based in Paris on their Github page but 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 Holograph protocol enables a single contract address across all EVM blockchains, which ensures consistent tokenization, seamless interoperability, and secure cross-chain asset transfers, according to a description on its website. At current market prices, the 1 billion HLG that the exploiter absconded with is worth slightly more than $6.7 million. 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 X 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.