Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home Incidents

Holograph Token Breach Impact

June 14, 2024
Reading Time: 2 mins read
in Incidents
Holograph Token Breach Impact

Holograph, an omnichannel tokenization platform, experienced a significant security breach where a malicious actor managed to mint 1 billion HLG tokens. This exploit resulted in an 80% decrease in HLG’s market value within nine hours, underscoring vulnerabilities within the platform’s smart contracts. The hacker exploited the Holograph Operator contract, executing nine transactions that led to the unauthorized minting of tokens. This influx of newly minted tokens caused a sharp decline in HLG’s value, plummeting by 79.4% within just ten minutes.

Following the breach, HLG’s market capitalization dramatically fell from nearly $22 million to $4.8 million, severely impacting investor confidence. The hacker began converting the tokens into the stablecoin Tether (USDT) approximately four hours after the initial exploit, exacerbating the instability of the HLG market. In response, the Holograph team swiftly patched the vulnerability in the smart contract, collaborated with exchange partners to lock malicious accounts, and initiated a compensation and refund program to mitigate losses for affected users.

The Holograph incident is part of a troubling trend of increasing cyberattacks targeting DeFi platforms, indicating a pressing need for stronger security measures in the crypto industry. Other recent attacks include UwU Lend’s second exploit and Gala Games’ hacking, both resulting in significant losses of digital assets. These incidents highlight the urgent necessity for proactive security measures to protect against future breaches and safeguard investor funds in the rapidly evolving cryptocurrency landscape.

Reference:
  • Holograph Platform Hit by Token Minting Breach
Tags: cyber incidentsCyber Incidents 2024Cyber threatsHLGHolographJune 2024Security Breachstablecoin
ADVERTISEMENT

Related Posts

Co-op Data Stolen of 6.5M Members

Stormous Hits North Country Health

July 18, 2025
Co-op Data Stolen of 6.5M Members

Co-op Data Stolen of 6.5M Members

July 18, 2025
Co-op Data Stolen of 6.5M Members

BigONE Crypto Exchange $27M Hit

July 18, 2025
Customer Data Breach at Seychelles Bank

Cyberattack Strikes Air Serbia

July 17, 2025
Customer Data Breach at Seychelles Bank

Ukrainian Hack Hits Russian Drone Firm

July 17, 2025
Customer Data Breach at Seychelles Bank

Customer Data Breach at Seychelles Bank

July 17, 2025

Latest Alerts

Matanbuchus Malware Spread via Teams Voice

Hackers Host Amadey Malware via GitHub Repos

Malicious npm Packages Deliver Protestware

Malicious Telegram APK Campaign Uncovered

Stealthy JavaScript Attacks via SVG Files

SonicWall Zero-Day RCE Exploited

Subscribe to our newsletter

    Latest Incidents

    Stormous Hits North Country Health

    BigONE Crypto Exchange $27M Hit

    Co-op Data Stolen of 6.5M Members

    Cyberattack Strikes Air Serbia

    Customer Data Breach at Seychelles Bank

    Ukrainian Hack Hits Russian Drone Firm

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial