Humanity Protocol’s H token tumbled nearly 90% after a major security breach exposed private keys connected to the project, allowing attackers to drain more than $30 million from at least 17 wallets.
H crashed from $0.68 to as low as $0.079 after the incident surfaced, according to CoinGecko data. The token later recovered to about $0.12, though it remained down 85% over the past 24 hours.
After Humanity Protocol was exploited for more than $30 million, the attacker began dumping H and converting proceeds into ETH, according to on-chain analysts.
Investigators then identified the minting of 100 million H tokens on BNB Chain, adding an estimated $11.4 million in fresh supply and fueling concerns about additional downside pressure.
Those fears intensified when another 100 million H was minted. By then, the attacker had already realized approximately 18,510 ETH ($30.83 million) and 1,548 BNB ($924,000) through the sales of H.
The exploiter still controls around 111 million H, worth approximately $14 million, although on-chain liquidity is now close to being depleted.
Note that the #Humanity hacker has minted another 100M $H on BSC.
By selling $H, the hacker has already obtained 18,510 $ETH($30.83M) and 1,548 $BNB($924K).
The hacker still holds 111.36M $H($14M) ready to be sold.
However, on-chain liquidity is nearly exhausted. 🚨 https://t.co/vSArj5j185 pic.twitter.com/aA56QhdNDr
— Lookonchain (@lookonchain) June 9, 2026
Humanity Protocol confirmed that the attack resulted from compromised private keys belonging to a member of the Humanity Foundation. Founder Terence Kwok acknowledged the breach and said the team is responding with external security and exchange partners.
We’ve detected a security incident involving the compromise of private keys belonging to a member of the Humanity Foundation. As a precaution, please do not interact with the bridge or any liquidity pools until we confirm it’s safe.
We’re already working with security experts…
— Terence Kwok 「 🖐️ ✦ 🌏 」 (@terencekwok) June 9, 2026
Users have been advised to avoid the protocol bridge and liquidity pools until further notice.
Incident looks too convenient, says ZachXBT
Crypto sleuth ZachXBT cast doubt on Humanity Protocol’s account of the breach, saying the incident “seems possibly staged” and that he was “not buying the team’s story.”
According to ZachXBT, it is still unclear whether the event was a genuine theft or the actions of a market maker exiting positions. He cited H’s supply concentration and noted that the dumped tokens were sold through decentralized exchanges rather than centralized venues.
The “incident” seems possibly staged I am not buying the teams story it’s a convenient way for the active MM to have exited https://t.co/rLrVCaB01u pic.twitter.com/lDMkylj4jE
— ZachXBT (@zachxbt) June 9, 2026
Humanity Protocol, which uses palm-scan biometrics and zero-knowledge cryptography to verify human identity while preserving privacy, is often viewed as a competitor to Worldcoin.
In May 2024, the project secured a $1 billion valuation following a $30 million seed round led by Kingsway Capital, with backing from Animoca Brands, Blockchain.com and several other strategic investors. Last January, it closed a $20 million funding round led by Pantera Capital and Jump Crypto that raised its valuation to $1.1 billion.
Before founding Humanity Protocol, Kwok led Tink Labs, a startup that became one of Hong Kong’s first tech unicorns before collapsing into bankruptcy.
The company raised about $200 million from investors including Foxconn and SoftBank, reaching a $1.5 billion valuation with its Handy hotel smartphone business.
However, the model became obsolete as cheap mobile data, eSIMs, and hotel Wi-Fi became widespread. Tink Labs shut down in 2019 and entered liquidation in 2020.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
