Holograph Partners with Halborn to Enhance Security for Omnichain Protocol

Strengthening Protocol Security

Holograph, a leading omnichain tokenization protocol, has announced a strategic partnership with web3 cybersecurity expert Halborn. This collaboration focuses on enhancing security measures following a security breach involving the minting of HLG, Holograph's native token. Halborn will conduct regular audits and provide a comprehensive analysis to bolster the protocol’s defenses.

Incident Review and Response

Following the incident, Holograph is taking proactive steps to address vulnerabilities. A detailed report outlining the breach and subsequent security enhancements will be published. Efforts are underway to resume HLG deposits on exchanges, facilitating the continuation of trading activities.

HLG Burn Plan Implementation

To rectify the disruption caused by the breach, Holograph has initiated an HLG Burn Plan. This strategic move aims to restore the token's original supply of 10 billion. The plan involves burning approximately 1 billion HLG, including 200 million from an attacker’s frozen accounts and 800 million from the treasury and market purchases. The first phase has successfully burned 53 million HLG, with ongoing transparency via onchain proof for each burn.

Ongoing Collaboration with Halborn

Holograph remains committed to strengthening its protocol security in collaboration with Halborn. This partnership will ensure the comprehensive protection of Holograph’s omnichain ecosystem, leveraging Halborn’s expertise to secure all protocol components. This alliance marks a significant step towards safeguarding the integrity and reliability of Holograph's tokenization services.