EddieJayonCrypto
14 Jun 24
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.