Chainwire – Los Angeles, CA – June 19th, 2024
The Holograph omnichain tokenization protocol has recently formed a technical partnership with web3 cybersecurity specialist Halborn. Halborn will be responsible for conducting regular audits to enhance the security of the protocol, following a recent incident involving a malicious attacker who was able to mint the native Holograph token, HLG.
In response to the incident, Halborn has been appointed to review the security of the protocol and provide a full report detailing the incident and the measures that have been implemented to prevent future occurrences. Holograph has also announced plans to resume HLG deposits to exchanges and has initiated an HLG Burn Plan to mitigate the effects of the attack.
The HLG Burn Plan, developed with input from the community, will involve burning HLG to restore the original supply of 10 billion HLG. Approximately 200 million HLG will be burned from the attacker’s frozen centralized exchange accounts, with an additional 800 million burned from the Holograph treasury and open market purchases. The plan has already commenced with the burning of 53 million HLG, and Holograph is committed to providing onchain proof of each burn as it occurs.
Moving forward, Holograph will work closely with Halborn to reinforce the security of the omnichain protocol and ensure that every component is fully strengthened.
About Halborn
Halborn is an award-winning cybersecurity company that specializes in providing world-class cybersecurity consulting and execution for blockchain organizations. They work as a third-party partner to continuously assess organizations’ assets and drive maximum value.
Learn more: https://www.halborn.com/
About Holograph
Holograph is an omnichain tokenization protocol that enables asset issuers to mint natively composable omnichain tokens. It has been widely used to mint millions of onchain assets, making it one of the most popular protocols for cross-chain asset production and distribution.
Learn more: https://www.holograph.xyz/
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