Crypto: Holograph Hackers Arrested and Soon to be Extradited to France

On June 13, 2024, the crypto world was shaken by a massive hack of the Holograph platform, resulting in the loss of 14.4 million dollars in HLG tokens. After two months of intensive investigation, French authorities announced the arrest of several suspects involved in this devastating attack.

Holograph Hacks: Suspects Arrested!

The investigation, led by the Office of Cybercrime Prevention (OFAC) in collaboration with the Brigade for the Suppression of Banditry (BRI), Europol, the Italian Anti-Mafia Investigation Directorate, and the Royal Cayman Islands Police Service (RCIPS), tracked and apprehended the individuals responsible. The suspects were arrested in Italy and are awaiting extradition to France where they will face charges related to crypto hacking.

The hack was carried out by exploiting a vulnerability in Holograph protocol’s operator contract, allowing the hackers to create a billion HLG crypto tokens via a proxy wallet. This fraudulent creation caused the value of HLG tokens to plummet from $0.014 to $0.0029 in just nine hours.

Authorities also seized assets and electronic devices belonging to the suspects, which should provide further evidence as the investigation progresses. Holograph disclosed that the attack was orchestrated by a disgruntled former contractor, confirming the crypto community’s speculations.

A Step Towards Crypto Security

This arrest marks an important milestone in the fight against cybercrime and sends a clear message to those considering committing similar crimes. French authorities are preparing to prosecute the arrested individuals, aiming to deliver justice and strengthen security in the crypto ecosystem.

Despite this attack, Holograph continues to enhance its security measures and maintain its commitment to providing a robust and secure tokenization platform. The crypto community is closely monitoring this case, hoping that the measures taken will prevent future similar incidents.

This case highlights the importance of international cooperation in combating cybercrime. Recently, several websites related to the Paris Olympics were hacked, with the attackers demanding a ransom in crypto. This underscores the need for increased vigilance and international collaboration to counter these growing threats.