Holloway was furious after an unnamed Premier League side contacted the player's agent without making an official approach to the club.
"Somebody has made an illegal approach and we can prove that," Holloway told the club's official website. "I'm not very happy about that and the Football League and the Premier League will be informed about that."
Holloway added: "The boy is a fantastic young man - we've had a good chat about it me and him - and he's as committed as ever to play for Blackpool and play well with his team-mates who help him look good."
The club confirmed that the matter is now in the hands of the necessary parties to investigate the matter further.
Meanwhile, Holloway admitted the chances of QPR striker DJ Campbell returning to the club are remote. The two parties were reported to be in discussions, but Holloway said the move is now unlikely due to financial reasons.
Campbell, 30, quit Bloomfield Road to join Rangers last summer following the club's relegation from the Barclays Premier League.
"I don't want to tell our fans that we might get DJ Campbell back. I don't think there's a chance in a million at the moment of doing that, because of his club, what they're looking for and how much they're paying him at the moment," Holloway told BBC Radio Lancashire.
"He's got another couple of years on that so does he need to take a cut or go backwards? I don't think so. Will they pay him some of the rest of the money? I don't think so.
"Why should he lose out? Whether they want him or not, they have to honour the contract. It's nobody else's fault other than what QPR decided to pay him when they took him on."
- Premier League
- Football League