Paris Court Opens Trial in Holograph’s $14 Million Unauthorized Minting of 1 Billion Tokens
Gold财经 reports that, on October 18, citing Agence France-Presse, the Paris court opened proceedings on October 16 into the unauthorized minting of 1 billion Holograph (HLG) tokens in 2024, involving approximately $14 million. Among the three defendants, the primary suspect is a former Holograph employee of Ukrainian nationality residing in France, accused of altering the token creation parameters to illegally mint 1 billion HLG tokens and transferring them to his personal wallet, followed by coordinating with accomplices to move the funds through multiple exchange accounts.
The Holograph Foundation's attorney stated in court that the incident caused the project to lose customer trust, leading to a complete halt in operations and preparations for liquidation.
Holograph 100M HLG Illegal Minting Case Heard in Paris, Involving $14M
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Summary
An on-chain news alert emerged as the Holograph (HLG) case, involving the illegal minting of 100 million tokens valued at approximately $14 million, went to trial in Paris on October 16, 2026. A former Ukrainian national working in France is accused of exploiting smart contract vulnerabilities to mint and transfer the tokens, with funds routed through multiple exchange accounts. The Holograph Foundation’s legal team stated that the breach triggered a collapse of trust, forcing the project to shut down and begin preparations for liquidation. The incident underscores the risks associated with exchange-related security vulnerabilities.
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