Holograph launches HLG destruction plan to restore total token supply to 10 billion

06/20 07:44

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ChainCatcher news, the full-chain NFT protocol Holograph stated in a post on X that on June 13, 2024, the Holograph protocol was illegally attacked and the malicious actor expanded the total supply of HLG (the native token of the Holograph ecosystem).As part of the attack, the malicious actor transferred 1 billion HLG tokens to multiple centralized exchanges and began to sell them extensively. After alerting various exchanges, about 200 million HLG tokens were successfully frozen and are currently being recovered through law enforcement procedures.Currently, there are approximately 800 million HLG coins remaining in circulation on the market. After extensive discussions with the community, a plan to restore the total supply of HLG to 10 billion has been initiated. The first batch of 53,249,975 HLG tokens has been destroyed, leaving 946,750,025 HLG tokens to be destroyed.

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