The decentralized identity verification project Humanity Protocol is becoming the focus of attention in the cryptocurrency community after a large-scale security attack compromised dozens of wallets related to the ecosystem, resulting in estimated losses of over $32 million and causing the price of the H Token to plummet by nearly 90% in just 24 hours.
Initial information was released by on-chain analyst Specter on June 9th. According to blockchain tracking data, at least 17 wallets holding Humanity Protocol's H Token were compromised by hackers who withdrew assets. Initially, the losses were estimated at around $5 million, however, subsequent investigations revealed the scale of the incident to be much larger.
In his latest update on his personal Telegram channel, Specter stated that the total value of stolen assets has increased to approximately $32 million. Of that amount, about $23.7 million worth of H Token have been converted to Ethereum (ETH), while nearly $7.9 million remains held as H Token in wallet addresses linked to the attacker.
It's worth noting that the exact cause of the incident remains undetermined. However, evidence on the blockchain suggests that the affected wallets may Chia a common security vulnerability or a shared form of exposure related to the Humanity Protocol ecosystem.
After the incident became public, Terence Kwok, founder of Humanity Protocol, quickly spoke out to confirm the incident on social media platform X. According to him, the attack did not stem from a core protocol vulnerability but was related to the compromise of a member's private key within the Humanity Foundation.
Kwok stated that the project team is collaborating with blockchain security experts and partner exchanges to prevent the spread of damage and trace the stolen funds. Simultaneously, Humanity Protocol is committed to providing regular updates to the community during the incident response.
The attack triggered a massive sell-off in the market. According to trading data, the H Token lost approximately 89% of its value in just one day, becoming one of the most significant altcoin market crashes in recent times. Many investors fear that selling pressure from the stolen Token could continue to impact prices in the coming days.
Humanity Protocol is a blockchain project focused on decentralized identity verification (DID). This platform uses biometric data combined with zero-knowledge proofs (ZK Proofs) technology to allow users to prove their authenticity without disclosing sensitive personal information.
