🚨 Shock!
An insider leaked the Hologram vulnerability, and HLG plummeted 50%!
$Blockchain security suffered another heavy blow 💥
💸 The blockchain world is making waves again! According to the latest reports, Holograph insiders have been accused of implementing the Hologram vulnerability, causing the price of HLG tokens to plummet by 50%, and the market value evaporated tens of millions of dollars in an instant!
👨💻 On June 13, a hacker exploited a vulnerability in the Hologram protocol code and frantically minted another 1 billion native HLG tokens, causing the token supply to swell by 66% instantly! This is simply a blockchain version of a "money printing machine" carnival!
📉 The hacker's behavior caused the price of HLG to plummet from $0.014 to $0.0064, and the market value also plummeted from $22 million to $10 million. Investors sold off one after another, and panic spread in the blockchain world.
🔧 The Holograph team responded quickly, announcing on June 14 that it had patched the vulnerability and said it was in contact with law enforcement. The team said on Twitter: "The initial vulnerability has been patched and we are working with trading partners to lock down the malicious account."
🕵️ Matt Casto, a crypto researcher at venture capital firm CMT Digital, believes that the hack is likely from a "rogue developer." He noted: "It looks like a rogue developer funded this address 26 days ago."
🔍 In this hack, ENS's wallet ac01aded.eth became a key player. The hacker exploited a weakness in the smart contract to mint 1 billion HLG tokens through 9 transactions and began converting the tokens to Tether (USDT) four hours later. Currently, the stolen tokens are worth about $6.4 million.
💡 Holograph is a blockchain tokenization platform that aims to allow the use of a single contract address on an EVM-powered blockchain. The project received $3 million in its latest round of financing in April, but this vulnerability incident has undoubtedly cast a shadow on its future.
🔥 This incident once again highlights the external and internal threats facing blockchain protocols. Previously, PumpFun and UwU Lend also suffered similar attacks and lost millions of dollars respectively. Blockchain security has become the focus of industry attention.
