Holograph Protocol, hired Halborn Security to conduct a comprehensive analysis of the latest vulnerability.
Holograph Recovery Update: Steps Taken Following the Hack
Upon completion of this analysis, the Holograph team plans to apply to exchanges for the reopening of HLG deposits.
In addition to vulnerability analysis, Halborn Security has been retained as a long-term technical partner to provide regular security audits for the Holograph Protocol, ensuring ongoing security and stability.
In response to the vulnerability, Holograph implemented an incineration plan developed with significant community feedback.
On June 13, 2024, the Holograph Protocol was the target of an illegal attack in which a hacker inflated the total supply of HLG, the native token of the Holograph ecosystem.
The hacker transferred 1 billion HLG to various central exchanges and made aggressive sales. Following alerting of exchanges, approximately 200 million HLG were successfully frozen and are currently in the process of being recovered through law enforcement procedures.
There are currently more than 800 million HLGs in circulation. After extensive discussions with the community, a plan was initiated to return the total HLG supply to 10 billion.
*This is not investment advice.
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