On 13 June 2024 a former Holograph technical contractor exploited inadequate access control on the mint/operator functions to mint 1 billion HLG across nine transactions using internal knowledge, with HLG falling roughly 80% within nine hours of the exploit.

The Omnichain NFT protocol Holograph protocol was exploited, resulting in a loss of approximately $14.4 million. According to the team, a former contractor exploited an infinite mint vulnerability in their smart contract to release an additional 1 billion HLG tokens, which were further dumped. This malicious actor, who had funded the operator contract roughly 26 days before the attack, deployed an unverified contract on Mantle, which was used to mint the additional tokens caused by a function that exploited the protocol's verification method.