Humanity Protocol Faces $32M Loss Amid Private Key Breach
- Wallets linked to Humanity Protocol were drained of over $32 million on June 9, causing the H token to plummet nearly 90%.
- Founder Terence Kwok attributed the breach to a compromised private key, while investigator ZachXBT suggested it might be a “crime pump.”
- The attacker minted new tokens on BNB Chain and converted holdings into approximately 18,510 ether worth about $30.8 million.
- Blockchain data revealed around $23.7 million was swapped into ether, with about $7.9 million remaining in depreciated H tokens.
- Critics questioned how an attacker could mint new supply with a single compromised key, typically a power reserved for project administrators.
The incident has raised concerns over security practices at Humanity Protocol and led to significant financial losses due to the rapid devaluation of its native token following the breach.
The exploitation of a private key resulted in substantial financial damage and raised questions about potential insider involvement, as noted by ZachXBT’s allegations of a staged event for market exit purposes. <span style= "font-size= "0.9em"; color= "#666;" (Source)
