Humanity Protocol hack: $19 million stolen and H token crashes 80%

The crypto network has been shaken by a large-scale hack in which wallets linked to Humanity Protocol are being drained en masse. Analyst Specter reports that at least 17 wallets containing Humanity Protocol tokens have been compromised, with total losses now exceeding $19 million. The attacker has already converted the stolen funds into other assets, triggering a freefall in the H token.

Massive losses and token crash

The consequences of the hack are devastating. The H token has dropped more than 80% in value in a short period, underscoring how seriously investors view the incident. So far, the attacker has been able to sell large quantities of Ethereum (18,510 ETH worth $30.83 million) and Binance Coin (1,548 BNB worth approximately $924.000) by dumping the stolen H tokens on marketplaces.

According to on-chain researcher Lookonchain, the attacker still holds 111.36 million H tokens, with an estimated value of around $14 million. This poses a potential further threat, as those coins could be sold at any time. However, the problem is less severe because the available liquidity on trading platforms has been almost completely exhausted.

Cause remains unclear

To date, the exact cause of the compromise has not been determined. Analysts suggest that the affected wallets may share a common exposure related to the Humanity Protocol ecosystem. Several suspicious addresses to which the stolen funds have been transferred have already been identified, helping investigation teams trace the money.

This incident serves as a reminder to the crypto community of the importance of wallet security and caution when interacting with new projects. The crash of the H token shows how quickly confidence can evaporate once security issues arise.