H Token Crashes 90% as Humanity Protocol Suffers Over $30M Private Keys Hack

Varinder Singh
Varinder Singh

Varinder Singh

Independent Sr. Journalist
Expertise : Bitcoin, Crypto, Global Macro, DeFi, Blockchain, Web3, US Stocks, AI, Regulations and Lawsuits, & More
Varinder is a seasoned leader in the fintech and crypto media with over 12 years of experience, including over 6 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 6000 news articles and papers.
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H Token Crashes 90% as Humanity Protocol Suffers Over $30M Private Keys Hack

Highlights

  • Humanity Protocol suffers over $30 million hack due to Foundation member's private keys compromise.
  • Hackers swapped drained H tokens into ETH and mint more to dump them for BNB.
  • H token price crashed 90% as investors moved to sell their holdings.
  • ZachXBT said “The incident seems possibly staged. I am not buying the teams story."

H token crashed 90% today after Humanity Protocol suffered a major security breach after private keys linked to a Humanity Foundation member were compromised. Hackers are minting H tokens and dumping them for ETH and BNB.

Humanity Protocol Suffered Over $30 Million Hack

On-chain analyst Specter flagged the Humanity Protocol hack, reporting that more than 17 wallets holding H token were drained. Early losses exceeded $5 million before reportedly rising to more than $30 million.

The number of addresses drained has increased into hundreds, and total losses continue to rise. Hackers swapped drained H tokens into Ethereum (ETH). Later, hackers minted 100 million H tokens and dumping them for BNB.

Humanity Protocol confirmed the security incident and revealed that private keys belonging to a member of the Humanity Foundation were compromised. The team asked users not to interact with cross-chain bridges or any liquidity pools.

Humanity Protocol is working with security experts and exchange partners to assess the scope of the incident and secure all affected systems.

 

H Token Crashes 90%

H token has plunged more than 90% after the Humanity Protocol hack, with the price currently trading at $0.126. The 24-hour high and low are $0.732 and $0.0747, respectively. Furthermore, trading volume has increased by 125% over the last 24 hours as investors moved to dump their holdings.

H Token Crash Within Hours
H Token Crash Within Hours

Specter claimed it is the “most confusing hack in recent time.” The project has lost more than 82% market cap due to the hack. Notably, the project went from one of crypto’s leading human identity narratives to a full-blown disaster in a matter of hours.

Hackers are currently minting and swapping H tokens to BNB. Lookonchain said “More selling pressure could be coming. Stay cautious.”

The Humanity Protocol hack happened weeks before the scheduled token unlock on June 25. The community questioned the high token supply, blaming the team for the hack.

Popular on-chain investigator ZachXBT said “The incident seems possibly staged I am not buying the teams story it’s a convenient way for the active MM to have exited.”

If you’ve started exploring crypto investing, check out the best crypto copy trading platforms to navigate the fluctuations of the crypto market and reduce risks of loss due to crypto hacks.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Varinder is a seasoned leader in the fintech and crypto media with over 12 years of experience, including over 6 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 6000 news articles and papers.