HLG Down Over 60% as Exploiter Mints 1 Billion New Tokens

The native token of the Holograph protocol (HLG) was down as much as 60%, according to CoinGecko data, after a malicious actor ran an exploit that allowed them to mint 1 billion HLG tokens. "The team has launched an investigation & is in the process of contacting law enforcement," the protocol posted on its X page. The Holograph protocol enables a single contract address across all EVM blockchains, which ensures consistent tokenization, seamless interoperability, and secure cross-chain asset transfers, according to a description on its website. At current market prices, the 1 billion HLG that the exploiter absconded with is worth slightly more than $6.7 million. 

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