Humanity Protocol’s native token, H, collapsed sharply on June 9, plunging roughly 88% from about $0.78 to near $0.099. The dramatic sell-off followed reports of a significant security breach affecting wallets linked to the protocol.
Multi-Million Dollar Hack
On-chain investigator Specter first raised the alarm, reporting that more than 17 wallets holding H tokens were drained. Separate reports suggested attackers had obtained private keys tied to the project and siphoned over $30 million from those wallets.
Humanity Protocol subsequently confirmed a security incident. In a post on X, the team behind the blockchain identity network said private keys belonging to a member of the Humanity Foundation were compromised and advised users not to interact with the bridge or any liquidity pools until further notice.
“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.”
Not all observers accepted the project’s account. On-chain investigator ZachXBT criticized the team for aggressively promoting the token while offering little underlying value and urged the project to disclose any active market-maker agreements involving a Hong Kong entity. In a separate post, ZachXBT suggested the breach could be “possibly staged,” adding that it would be a convenient way for an active market maker to exit positions.
Humanity Protocol is a blockchain-based identity project designed to help people verify they are real humans. The protocol leverages biometric verification and privacy-preserving technology so users can prove identity without sharing personally identifiable information. It launched on mainnet last year and quickly gained attention as a rival to Sam Altman’s Worldcoin (now rebranded to World Network).
Attacker Cashes Out Millions
Blockchain analytics firm Lookonchain reported that the attacker continued minting H tokens after the exploit, creating an initial 100 million H tokens on BNB Smart Chain and then minting another 100 million. The attacker sold a portion of those tokens, converting transfers into 18,510 ETH—approximately $30.83 million at the time—and 1,548 BNB, roughly $924,000.
Despite those sales, the attacker reportedly still controls about 111.36 million H tokens, valued at nearly $14 million at prevailing prices. Lookonchain noted that on-chain liquidity for H tokens is now almost exhausted, limiting options for converting the remaining holdings without further market disruption.
The incident has left stakeholders and the broader crypto community urging transparency and stronger security measures. Exchanges, security firms, and the Humanity Protocol team said they are investigating the full scope of the breach and taking steps to secure affected systems. Users are advised to avoid interacting with bridges and liquidity pools associated with H tokens until the project provides a clear and verifiable remediation plan.