Holograph’s internal investigation, aided by Halborn, uncovers a former contractor’s involvement in the $14 million token heist. The hacker exploited the Holograph protocol, causing a significant drop in HLG token value. Holograph has resumed operations with enhanced security.
An internal investigation revealed that a former disgruntled contractor was responsible for hacking the blockchain tokenization platform Holograph.
Holograph began an internal investigation with blockchain investigation firm Halborn and released a post-mortem of the incident on July 2, highlighting the involvement of “a disgruntled former contractor.” According to Holograph, the former contractor minted $14 million of HLG tokens using a proxy wallet.
The former contractor-turned-hacker meticulously planned the heist months in advance, knowing they had admin access to Holograph Protocol v1 contracts, which was later used as a backdoor.Holograph intends to involve law enforcement in the investigation. After identifying the cause, Holograph resumed bridging on the v2 protocol and advised all crypto exchanges to allow HLG deposits and withdrawals.
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