Grafa
Humanity Protocol token crashes after $30M exploit
Image for illustrative purposes only. Not a real photo.

Humanity Protocol token crashes after $30M exploit

Share

Humanity Protocol has suffered a major security breach after attackers reportedly stole more than $30 million worth of its native H token through a compromised private key, triggering a sharp collapse in the token’s price.

Humanity Protocol founder and chief executive Terence Kwok confirmed on Tuesday that private keys belonging to a member of the Humanity Foundation had been compromised, warning users not to interact with the project's bridge or liquidity pools until further notice.

“We’ve detected a security incident involving the compromise of private keys belonging to a member of the Humanity Foundation,”

Kwok said.

The decentralised identity project, which uses privacy-focused palm biometrics and operates on a zkEVM blockchain, saw its H token plunge approximately 85% over a 12-hour period, falling from around $0.70 to near $0.08.

Blockchain investigator Specter reported that wallets linked to Humanity Protocol appeared to be compromised in an ongoing attack that may have drained as much as $30 million worth of tokens from the ecosystem.

Blockchain analytics platform Arkham Intelligence also reported that the attacker was swapping large amounts of H tokens through decentralised exchanges including Kyber Network and PancakeSwap.

The incident highlights a growing trend of private key compromises across the cryptocurrency industry, following several high-profile attacks this year that have collectively resulted in hundreds of millions of dollars in losses from compromised administrator credentials and wallet infrastructure.

At the time of reporting, Humanity price was $0.1175.

Frequently asked questions

Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relate to your unique circumstances.

Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of or reliance on the information provided directly or indirectly, by use of this platform.