#How did the Humanity Protocol's H token suffer a significant loss?
The H token from Humanity Protocol experienced a dramatic decline of nearly 90% following a severe security breach. This incident compromised private keys associated with the project, enabling attackers to siphon off more than $30 million from at least 17 different wallets.
Initially valued at $0.68, H plummeted to a low of $0.079 after the breach became known, as reported by CoinGecko. Although there was a slight recovery, bringing the price back to around $0.12, it still reflected an 85% reduction in value over the preceding 24 hours.
#What actions did the attacker take after exploiting Humanity Protocol?
Following the attack that resulted in draining roughly $30 million, the perpetrator began to liquidate the stolen H tokens, converting the proceeds into Ethereum. Analysts tracking the blockchain reported substantial minting activities involving H tokens on the BNB Chain, which introduced an additional 100 million H tokens into circulation and raised alarms about potential further depreciation of the token's value. Alarmingly, this situation escalated when a second batch of 100 million H tokens was also minted.
The attacker has indeed managed to realize about 18,510 ETH, valued at approximately $30.83 million, alongside 1,548 BNB, which amounts to an estimated $924,000 from the sales of the compromised H tokens. Currently, the exploiter retains control over around 111 million H tokens, a total worth close to $14 million. However, the liquidity available on the blockchain is critically low, posing challenges for any future transactions involving H.
#What response has Humanity Protocol provided following the breach?
In light of this incident, Humanity Protocol acknowledged that the breach stemmed from compromised private keys belonging to an individual associated with the Humanity Foundation. The founder of Humanity Protocol indicated that the team is actively collaborating with external security professionals and exchange partners to mitigate the situation. He advised users to refrain from engaging with the protocol’s bridge and liquidity pools until a thorough safety confirmation is provided.
The protocol's response highlights the urgent need for robust security measures within blockchain systems to prevent similar incidents from occurring, thereby protecting users and their assets.