A Paris court sentenced Vitaliy K., a former Holograph Foundation employee, to five years in prison for illegally minting and stealing 1 billion HLG tokens valued at about $14 million in 2024. He was found guilty of fraud, money laundering, and unauthorized system access, with two accomplices also convicted. The Holograph Foundation's claim for compensation was rejected as the token's price had already fallen significantly before the theft. The foundation is now preparing for liquidation, leaving HLG holders with bleak prospects.
The case of the former Holograph Foundation employee sentenced for illegal minting of HLG tokens provides context for cryptocurrency market activity. For readers following the crypto sector, here is Pluang's market snapshot as of Nov 08, 2026 10:21 WIB: out of 50 major cryptocurrencies priced on Pluang, 10 rose and 39 fell today. Notable movers include KSM (Kusama) at Rp58.383 with a -2.97% change and 100% buy order activity, ATOM (Cosmos) at Rp24.527 with a -2.91% change and 90% buy order activity, and BAT (Basic Attention Token) at Rp2.211 with a -2.88% change and 63% buy order activity.
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