Hacken token plunges 99% after hacker mints and dumps $250K

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Cybersecurity agency Hacken has blamed a private key leak that allowed a nasty actor to mint and loot $250,000 value of the ecosystem’s native Hacken Token (HAI), inflicting it to plummet round 99% on Saturday.

In an X put up, Hacken mentioned the private key was linked to an account with a minting position on the Ethereum and BNB Chain, which led to the “unauthorized HAI minting and a dump” on decentralized exchanges — inflicting a 99% drop within the worth of HAI from $0.015 to $0.000056.

HAI is presently buying and selling at $0.00026.

Source: Hacken 

Hacken crew members mentioned they’ve since revoked the compromised minter account from the token contract and regained management; nevertheless, primarily based on Hacken’s present estimates, the unhealthy actor nonetheless managed to flee with at the least $250,000 value of tokens.

“The core infrastructure has always been separate from HAI infra and remains secure. There is currently no evidence of any compromise beyond the private keys,” Hacken mentioned. 

Private key leak linked to bridge deployment 

Hacken mentioned the private key was compromised throughout “architectural changes” to the agency’s blockchain bridge, which had been being utilized “specifically to prevent risks like this,” based on Hacken. 

“Hacken’s bridge was built at a time when the market and tech looked very different. Redesigning a deployed bridge means migrating contracts — a complex legal and technical process,” the agency mentioned. 

As a precaution, Hacken has paused bridge transactions on Ethereum and BNB Chain till additional discover and warned that there have been no airdrops deliberate and that any posts saying in any other case are scams. 

Tokens purchased after hack not supported 

Hacken CEO Dyma Budorin mentioned in an X put up on Sunday that each one tokens on the affected networks, BNB Smart Chain and Ethereum, purchased after the hack “will not be supported in the new tokenomics.” 

Source: Dyma Budorin 

“Our goal was always to convert HAI into a security token that represents Hacken equity and has crypto flexibility. Now is the time to accelerate the idea implementation,” he mentioned. 

Hacken mentioned its long-term purpose now could be to rework HAI right into a regulated monetary software that merges token utility with fairness rights by merging HAI and Hacken’s fairness shareholders. 

Related: Politicians’ memecoins, dropped court docket instances gasoline crypto ‘crime supercycle’

All professional consumer balances stay trackable, and HAI tokens can have the choice to swap later, with particulars coming quickly, based on Hacken. 

Hackers stole $1.6 billion in first quarter this 12 months

Blockchain safety agency PeckShield mentioned in an April report that hackers stole over $1.63 billion in crypto in the course of the first quarter of 2025. 

More lately, liquid staking protocol Meta pool suffered an analogous exploit on June 18, when an attacker was capable of mint 9,705 of the liquid staking protocol’s token mpETH value practically $27 million however solely managed to steal round 52.5 Ether (ETH), value simply over $132,000.

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