Humanity Protocol has advised users to avoid using its bridges and liquidity pools following a major security incident.
The project’s native asset, the H token, suffered a dramatic decline on June 9, falling nearly 88 percent from approximately $0.78 to about $0.099. The sharp drop followed reports of a significant breach involving wallets linked to the protocol.
Multi Million Dollar Exploit
On chain investigator Specter was the first to raise concerns, revealing that more than 17 wallets holding H tokens had been drained. Additional reports suggested that attackers gained access to private keys associated with the project and stole assets worth more than $30 million.
Humanity Protocol later acknowledged the incident. In a post on X, the blockchain identity platform disclosed that private keys belonging to a member of the Humanity Foundation had been compromised. The team urged users to refrain from interacting with bridges and liquidity pools until further notice.
The project stated:
“We are actively working with leading security experts and our exchange partners to assess the scope of the incident and secure all affected systems. We’re deeply sorry that this has happened. Protecting this community is our responsibility, and we don’t take that lightly.”
However, not everyone accepted the explanation provided by Humanity Protocol. On chain investigator ZachXBT criticized the project on X, accusing the team of heavily promoting the token for weeks despite offering little real value. He also called for transparency regarding any active market maker agreements involving a Hong Kong based entity.
In another post, ZachXBT suggested that the breach may have been “possibly staged,” adding that it appeared to be “a convenient way for the active market maker to have exited.”
Humanity Protocol is a blockchain based digital identity project designed to help users verify that they are real people. It combines biometric authentication with privacy preserving technology, allowing individuals to prove their identity without exposing personal information.
The platform launched its mainnet last year and quickly emerged as a competitor to Sam Altman’s Worldcoin, which has since been rebranded as World Network.
Attacker Cashes Out Millions
According to blockchain analytics platform Lookonchain, the attacker continued minting H tokens after the exploit. The hacker initially created 100 million H tokens on BB Smart Chain before minting another 100 million tokens.
Investigators found that a portion of these tokens had already been sold. The attacker reportedly received 18,510 ETH, valued at roughly $30.83 million, along with 1,548 BB worth approximately $924,000.
Despite these sales, the attacker still controls around 111.36 million H tokens, currently valued at nearly $14 million. Lookonchain also noted that the token’s on chain liquidity has been almost completely depleted.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
