Humanity Protocol's H Token Sinks 88% After Reported $30M Wallet Exploit

Humanity Protocol's native token, H, plunged nearly 88% on June 9, sliding from about $0.78 to roughly $0.099, after reports surfaced of a security breach tied to wallets connected to the project. Onchain investigator Specter said more than 17 wallets holding H were drained. Separate accounts suggested attackers obtained private keys linked to the project and siphoned more than $30 million from those wallets. Humanity Protocol later acknowledged the incident. In a statement posted on X, the team behind the blockchain identity network said the private keys of a Humanity Foundation member had been compromised and advised users not to interact with the bridge or any liquidity pools until further notice. The team said it is working with security specialists and exchange partners to determine the scope of the breach and secure affected systems. The project's explanation drew criticism from onchain investigator ZachXBT, who accused the team of heavily promoting the token for weeks while offering limited underlying value. He also urged the project to disclose any active market-making arrangements involving a Hong Kong entity. In a separate post, ZachXBT said the breach appeared "possibly staged", calling it a "convenient way for the active MM to have exited." Humanity Protocol is a blockchain-based identity project designed to let users prove they are real humans using biometric data and privacy technology without revealing personal information. The project launched on mainnet last year and gained attention as a competitor to Sam Altman's Worldcoin, now rebranded as World Network. Lookonchain reported that after the exploit the attacker continued minting H tokens, creating 100 million H on BNB Smart Chain and then minting another 100 million. The analytics firm said the attacker has already sold part of the haul, receiving 18,510 ETH valued at about $30.83 million and 1,548 BNB worth roughly $924,000. The attacker still holds an estimated 111.36 million H tokens, valued at nearly $14 million at current prices, while onchain liquidity has been nearly depleted, Lookonchain said. The post Worldcoin Rival Humanity Protocol's Token Crashes 88% as $30M Wallet Drain Sparks Security Panic appeared first on CryptoPotato.