- Exploiters minted 300M H tokens and drained $34M, crushing liquidity across BNB.
- Security concerns grew after attackers compromised multiple multisig keys.
- Analysts questioned governance as the exploit followed a major rally in H token price.
Humanity Protocol continues to face mounting pressure after a devastating exploit wiped out nearly all liquidity tied to its H token on BNB Chain. The attack has now stretched beyond 13 hours, while the token’s value has plunged by 99.9%.
On-chain data shows the attacker repeatedly minted new H tokens before dumping them into liquidity pools. Consequently, the exploit drained millions from the ecosystem and intensified concerns about the project’s internal security practices.
Blockchain tracker EmberCN reported that the exploiter minted roughly 300 million H tokens during the attack. The wallet behind the exploit reportedly extracted nearly $34 million before liquidity dried up almost entirely. Besides, liquidity in the affected BNB Chain pool has now fallen to only $13, leaving traders unable to exit positions efficiently.
Questions Grow Around Key Management
Humanity Protocol described the breach as a private key compromise involving a Humanity Foundation member. The team stated that attackers gained access to several multisig signer keys connected to bridge contracts and treasury wallets. Hence, the exploiter upgraded contracts and transferred massive amounts of H tokens from multiple wallets.
The project later revealed that attackers compromised three out of six bridge owner keys. Additionally, they accessed three out of five keys tied to the BNB Chain safe wallet. Security researchers immediately questioned how one individual controlled several sensitive signer keys within the same system.
Yearn developer Banteg highlighted the unusual structure of the multisig setup. Trading Strategy co-founder Mikko Ohtamaa also criticized the arrangement. He pointed out the contradiction between Humanity’s identity-focused mission and its concentrated key management practices.
ZachXBT and Analysts Raise Manipulation Concerns
The incident also revived scrutiny surrounding Humanity Protocol’s recent price activity. H token surged nearly 400% during late May before the exploit surfaced. Consequently, several blockchain analysts questioned whether the rally reflected organic demand.
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Blockchain investigator ZachXBT criticized the project’s earlier statements and demanded transparency regarding market maker relationships. Although he initially suggested the exploit looked suspicious, he later softened that stance after reviewing laundering activity tied to the attacker’s wallets.
Security firm PeckShield estimated that attackers drained nearly 190 million H tokens from more than 280 wallets. Moreover, Beosin identified contract upgrades that enabled direct token transfers from victim wallets.
The timing of the exploit has also intensified speculation across the crypto community. Humanity Protocol planned to unlock 266.5 million vested tokens for investors and team members within weeks. Meanwhile, critics continue questioning the project’s governance, token distribution model, and overall operational transparency.
Humanity Protocol’s H token currently trades near $0.2038 after losing almost 70% within 24 hours. The token’s market capitalization has also dropped sharply despite heavy trading activity exceeding $455 million during the same period.
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