Holograph’s internal investigation, aided by Halborn, revealed a former contractor’s role in the $14 million token heist.
An internal investigation revealed that a former disgruntled contractor was responsible for hacking the blockchain tokenization platform Holograph.
On June 13, a hacker exploited the Holograph protocol to mint 1 billion native Holograph (HLG) tokens worth $14.4 million. As a result, the value of HGL tokens dropped by nearly 80% within nine hours of the exploit — from $0.014 to a low of $0.0029.
According to CoinGecko data, HGL attempted an unsustained recovery to $0.0049 before stabilizing at $0.002887 at the time of writing.