Holograph Protocol Suffers Illegal Attack, Initiates Recovery Plan

According to Odaily, Holograph, a blockchain protocol, has reported an illegal attack on its platform on June 13. The malicious attacker increased the total supply of Holograph's native token, HLG, and transferred 1 billion HLG to various crypto exchanges (CEX) for sale. After reporting the situation to the exchanges, approximately 200 million HLG were successfully frozen and are currently being recovered through law enforcement procedures. The circulating supply of HLG is now around 800 million. Following extensive discussions with the community, a plan to restore the total supply of HLG to 10 billion has been initiated. The first batch of 53,249,975 HLG has been destroyed, leaving 946,750,025 HLG still to be destroyed. This incident highlights the ongoing security concerns within the blockchain and cryptocurrency industry.