Former Holograph Foundation employee sentenced to five years over $14M HLG token mint

A Paris criminal court has sentenced former Holograph Foundation employee Vitaliy K. to five years in prison, with two years to serve and the rest suspended, plus a 600,000 euro fine, for illegally modifying HLG minting rules in 2024 to create and steal 1 billion tokens worth about $14 million. Two accomplices received lighter sentences, and the court dismissed the foundation’s claim for compensation over the token’s price decline.