The decentralized identity verification project Humanity Protocol is grabbing the crypto community's attention after a massive security breach compromised dozens of wallets linked to the ecosystem, resulting in an estimated loss of over 32 million USD and causing the price of token H to plummet nearly 90% within just 24 hours.
Initial information was released by on-chain analyst Specter on June 9. According to blockchain tracking data, at least 17 wallets holding Humanity Protocol's token H were taken over by hackers who drained the assets. Initially, the damage was estimated at around 5 million USD, but further investigations revealed the scale of the incident to be much larger.
In the latest update on his personal Telegram channel, Specter stated that the total value of stolen assets has risen to approximately $32 million. Of that, around $23.7 million in H tokens has been converted to Ethereum (ETH), while nearly $7.9 million is still held as H tokens in wallets related to the attacker.
It's worth noting that the exact cause of the incident is still unclear. However, blockchain indicators suggest that the affected wallets might share a common security vulnerability or some kind of shared exposure related to the Humanity Protocol ecosystem.
After the incident became public, Terence Kwok, the founder of Humanity Protocol, quickly took to social media X to confirm the incident. According to him, the attack did not stem from a core protocol vulnerability but was related to a private key compromise of a member from the Humanity Foundation.
Kwok mentioned that the project team is collaborating with blockchain security experts and partner exchanges to prevent further damage and trace the stolen funds. Meanwhile, Humanity Protocol commits to regularly updating the community during the incident response.
The attack triggered a massive sell-off in the market. According to trading data, H token lost about 89% of its value in just one day, becoming one of the most significant downturns in the altcoin market recently. Many investors are worried that the selling pressure from the stolen tokens could continue to affect prices in the upcoming days.
Humanity Protocol is a blockchain project focused on decentralized identity verification (Decentralized Identity – DID). This platform uses biometric data combined with zero-knowledge proof technology (Zero-Knowledge Proofs – ZK Proofs) to allow users to prove they are real individuals without disclosing sensitive personal information.
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