Suspects Arrested in Italy for $14.4 Million Holograph Hack

Europol officers have arrested two suspects in connection with the attack on the Holograph protocol, which resulted in damages amounting to $14.4 million, according to the project’s team.

Holograph Hack Arrests

After an incredibly intensive two-month pursuit by France’s Office for the Prevention of Cybercrime (OFAC), BRI, @Europol, the Italian Directorate of Anti-Mafia Investigations, & @Policing_Cayman (RCIPS), we’re grateful to share that multiple arrests have… pic.twitter.com/4ZF076tLkJ

— Holograph (@holographxyz) August 14, 2024

The arrests were conducted in Italy with the assistance of French authorities. Law enforcement officials have frozen and seized a substantial amount of assets, as well as electronic equipment.

The names of the suspects are not being disclosed due to the ongoing investigation. It is known only that they are “30-year-olds from Eastern countries.” They are expected to be extradited to France soon.

Previously, the company identified a “disgruntled former contractor” as being involved in the attack.

On June 13, a perpetrator hacked the smart contract of the Holograph protocol operator and issued 1 billion HLG worth $14.4 million. Subsequently, the native blockchain token plummeted by 80%.