According to Odaily, the blockchain tokenization platform Holograph has reported that a disgruntled former contractor is responsible for a recent attack on its system. On June 13, a hacker exploited the Holograph protocol to mint 1 billion native Holograph (HLG) tokens, valued at $14.4 million. This action led to a nearly 80% drop in the value of HLG tokens within nine hours of the attack.
The internal investigation conducted by Holograph revealed the involvement of the former contractor, who was reportedly dissatisfied with the company. The attack has significantly impacted the platform's operations and the value of its native tokens. The company is currently taking measures to mitigate the effects of the attack and prevent similar incidents in the future.
This incident underscores the potential vulnerabilities of blockchain platforms and the need for robust security measures to protect against such attacks. It also highlights the potential risks associated with the use of native tokens in blockchain platforms.
