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

A Paris court convicted Vitaliy K. of tampering with HLG minting rules to create and steal 1 billion tokens in 2024 A Paris criminal court has sentenced a former Holograph Foundation employee to five years in prison. The case centers on the illegal minting and transfer of 1 billion HLG tokens, valued at approximately $14 million at the time. The defendant, identified as Vitaliy K., will serve two of those years. The rest is suspended, and he also faces a €600,000 fine. What the court found The ruling came down on November 6, 2026, at the Paris tribunal judiciaire. The court found Vitaliy K. guilty on several counts. These included unauthorized access to an automated data processing system, organized fraud, money laundering, and membership in a criminal association. The conduct at the heart of the case ran from May to August 2024. During that window, the minting rules for HLG tokens were illegally modified. The changes allowed for the creation and theft of 1 billion HLG tokens. At the time, those tokens were worth roughly €12.5 million, or about $14 million. Vitaliy K. did not act alone. Two accomplices were also convicted, and both received lighter sentences than the main defendant...