The team behind Holograph (HLG) said they have patched the vulnerability and are working with centralized exchanges to freeze accounts associated with the hacker.

According to CoinGecko data, the native token of the Holograph protocol (HLG) dropped by up to 60% after a malicious actor exploited a vulnerability that allowed them to create 1 billion HLG tokens. HLG token price has recovered slightly and is trading at $0.007461.

HLG price chart | Source: Coingecko

“The team has begun an investigation and 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, ensuring consistent coding, seamless interoperability, and secure transfer of assets across chains, according to the description on the page their website.

At the current market price, the 1 billion HLG the miner appropriated is worth more than 6.7 million US dollars.

On-chain data shows that the ENS wallet acc01ade.eth is involved in this vulnerability. A Github page shows they are also a contributor to the project.

An X site of the same name describes itself as a “super dark coder” in Paris. This account did not respond to Bitcoin Magazine's request for comment.

Source: https://tapchibitcoin.io/holograph-hlg-giam-hon-60-khi-hacker-duc-them-1-ty-token-moi.html