Crypto NewsAltcoinJUST IN: This Altcoin Suffers Massive Hack Attack, Hacker Mints 1 Billion...

JUST IN: This Altcoin Suffers Massive Hack Attack, Hacker Mints 1 Billion Tokens of Its Own – Price Plummets

The cryptocurrency market is shaken by a new hacking incident. An altcoin was hacked and 1 billion additional tokens were mined.

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According to the official statement made by the developers, the altcoin named Holograph (HLG) suffered a major hack attack.

In the statement they made on their official

In the statement made via X, it was announced that the altcoin team has fixed the security vulnerability that caused the first attack and is working with the exchanges to freeze malicious accounts. It was also added that the developers have initiated an investigation regarding the issue and are in the process of applying to the security forces.

Due to the impact of the attack, the HLG price lost more than 50% of its value.

Daily chart showing the decline in the HLG price.
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HLG is traded on major centralized cryptocurrency exchanges Bybit, Gateio and Kucoin. At the time of writing, the total market value of the token after the decrease in value was measured at approximately $ 7 million and is traded at $ 0.007092. In other words, as a result of the hacking attack, approximately $7 million worth of tokens at the current price fell into the hands of hackers.

HLG is known as an altcoin traded on the Ethereum network.

*This is not investment advice.

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