The price of Humanity Protocol’s crypto asset crashed following a major security incident that targeted the decentralized identity project.
According to Humanity, hackers drained wallets holding the project’s H tokens after an employee’s laptop storing private keys for interchain transfers was compromised with malware.
“The attack was made possible entirely by key compromise resulting from inadequate key storage practices: production-grade signing keys were backed up to a general-purpose development machine rather than isolated hardware. This is a human and operational security failure.”
Humanity says the loss now amounts to around $36 million.
“Last night, June 8, the H token was hit by a coordinated attack across Ethereum and BSC. While we’re still investigating this incident, we want to be transparent with our community about what happened. As of right now, ~$36M+ has been stolen across both chains and dumped.”
Crypto intelligence platform Santiment says H token went down from $0.72 to $0.10 within hours after the incident. The price drop wiped out the gains earned over the past three weeks when the asset rallied from $0.20.
“$H (Humanity Protocol) lost ~85% in a single 6-hour candle on Jun 8. A reported private-key compromise was the trigger — but a stack of leverage is what made the drop this violent.
~$22.8M in $H flooded onto exchanges in the same window — the largest single 6h inflow of the entire run.”
H token is now changing hands for $0.18.
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This post Humanity Protocol Crashes 85% in Just Hours After Hackers Drain $32,000,000 in Private Keys Breach may be modified as updates unfold.
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