The Holograph team has fixed the vulnerability and is working with multiple exchanges to block malicious accounts.
The native token HLG of the Holograph protocol has fallen by more than 60% after malicious attackers used vulnerabilities to mint 1 billion HLG. According to CoinGecko data, this event led to a sharp drop in the market price of HLG.
The attackers successfully minted an additional 1 billion HLG tokens by exploiting vulnerabilities in the Holograph operations contract. The Holograph team has fixed the vulnerabilities and is working with multiple exchanges to block malicious accounts.
According to on-chain data, the wallet acc01ade.eth, which was involved in this vulnerability, also shows on its Github page that it is one of the contributors to the Holograph project. Currently, the team is conducting further investigations and contacting law enforcement agencies.
The Holograph protocol aims to achieve unified contract addresses on all Ethereum Virtual Machine (EVM) blockchains, ensuring consistency, interoperability, and secure cross-chain asset transfers for tokenization operations.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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