Humanity Protocol’s H token collapsed by 88% in 24 hours after attackers stole over $32 million by compromising private keys belonging to a Humanity Foundation member. The exploit, which unfolded on June 9, drained at least 17 wallets and allowed the hacker to mint additional tokens, which were then swapped for ETH and BNB, sending the price from around $0.70 to an intraday low of $0.072.
Founder Terence Kwok confirmed the breach and urged users to avoid the project’s bridge and liquidity pools until safety is assured. The team is working with security experts, but the incident has already erased over $1 billion in market cap — just weeks before a scheduled token unlock on June 25, making the timing especially critical.
On-chain investigator ZachXBT quickly raised doubts, alleging the team had been “pumping the token” ahead of the unlock before the malicious attack occurred. He later clarified that the market-making scheme and the key compromise might be independent, but called the situation “kind of funny” that the team got “rekt” before the unlock. ZachXBT offered a bounty for proof of wrongdoing and demanded the team disclose its market-maker agreements.
The hack is part of a brutal 2026 trend, following major breaches at Drift Protocol ($285M) and Kelp DAO ($293M), with North Korea‑linked actors often suspected. Market-wide, the fallout is fuelling institutional distrust and contributing to record ETF outflows of over $4 billion in recent weeks. Nonetheless, Bitcoin held above $63,000 despite an extremely fearful sentiment (Fear & Greed Index at 10), and Ethereum ETFs recorded $82 million in inflows on June 8 — the strongest day in months — offering a rare bright spot.
Meanwhile, Sam Bankman-Fried has formally applied for a presidential pardon, reigniting debate; the broader crypto market remains in consolidation, with Cardano and XRP up 4.5% and 2.3% respectively, while on‑chain collectible projects like Collector Crypt and Ready Cards surged.
