📉 #Holograph's token fell by 80% within 9 hours after a malicious actor hacked the protocol’s operator contract and minted 1B $HLG tokens worth $14.4M.

🔺 1B $HLG tokens were minted across 9 transactions by the hacker, taking advantage of a smart contract vulnerability — with the first mint on June 13 at 9:47 am UTC, according to Etherscan. 7 of them were sent in 100M batches.

🔺 It took only 10 mins for $HLG’s price to start tumbling. Within only 9 hours, the token fell 79.4% from $0.014 to a local low of $0.0029, while $HLG’s market cap fell from nearly $22 million to $4.8 million in that timeframe, according to @CoinGecko. $HLG has since recovered slightly to $0.008.

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