According to ChainCatcher, the full-chain NFT protocol Holograph published a post on X stating that on June 13, 2024, the Holograph protocol was illegally attacked and malicious actors expanded the total supply of HLG (the native token of the Holograph ecosystem).
As part of the attack, the malicious actor transferred 1 billion HLG to multiple centralized exchanges and began to sell them. After alerting the exchanges, approximately 200 million HLG were successfully frozen and are currently being recovered through law enforcement procedures.
Currently, there are approximately 800 million HLG remaining coins in circulation. After extensive discussions with the community, the plan to restore the total supply of HLG to 10 billion has been launched. The first batch of 53,249,975 HLGs have been destroyed, leaving 946,750,025 HLGs to be destroyed.
Earlier news, the full-chain NFT protocol Holograph released an update on the recent security incident, saying that a former contractor exploited a vulnerability to mint an additional 1 billion HLG tokens on Mantle, causing the protocol to be temporarily locked.
