Holograph $1 billion token illegal minting case opens in Paris, involving approximately $14 million

BlockBeats news, October 17: The illegal minting of 1 billion tokens involving Holograph (HLG) in 2024 went to trial in Paris on October 16, with the amount involved at the time approximately $14 million. Among the three defendants, the main suspect is a Ukrainian former Holograph employee residing in France, accused of illegally minting 1 billion HLG by modifying the token creation conditions and transferring them to his personal wallet, subsequently moving funds with accomplices through multiple exchange accounts.

A lawyer for the Holograph Foundation stated during the trial that the incident caused the project to lose customer trust, and it is now completely halted and preparing for liquidation.