Hassan Maishera
TL;DR
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Around 17 wallets that have interacted with Humanity Protocol have been drained for over $32 million.
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Humanity Founder Terence Kwok said the breach was due to a private key compromise.
Wallets linked to interactions with Humanity Protocol have reportedly been targeted in an ongoing exploit, according to onchain analyst Specter.
The incident, first flagged on Monday, initially appeared to involve losses of around $5 million, but later estimates suggest the damage has grown significantly.
Losses Surge to $32 Million as Funds Are Moved Onchain
In an update shared on Telegram, Specter revised the estimated losses to approximately $32 million across 17 wallets holding Humanity’s native H token.
According to the analyst, about $23.7 million of the stolen assets has already been swapped into Ethereum, while roughly $7.9 million remains in H tokens.
Specter noted that the root cause of the exploit is still unclear, but the pattern suggests a shared vulnerability or exposure among affected wallets tied to Humanity Protocol.
Following the reports, Humanity Protocol founder Terence Kwok acknowledged the incident on X, stating that the breach involved the compromise of private keys belonging to a member of the Humanity Foundation.
It appears that wallets linked to, or that have interacted with, @Humanityprot are being compromised.
— Specter (@SpecterAnalyst) June 8, 2026
So far, more than 17 wallets holding $H (Humanity Protocol) tokens have been drained, resulting in total losses exceeding $5 million.
Theft addresses:… pic.twitter.com/EOmMHkYxU2
Kwok said the team is working with security specialists and exchange partners to contain the situation and investigate the incident.
“We’re deeply sorry — protecting this community is our responsibility, and we’ll keep you updated every step of the way,” he wrote.
Suspicious Minting Activity Raises Further Concerns
Later on Monday night, Specter reported that the attacker had minted 100 million H tokens, which were then allegedly dumped for BNB tokens, intensifying market pressure on the asset.
The unusual minting activity added further uncertainty around the nature of the incident and whether it stemmed from an external exploit or internal compromise.
Not all analysts are convinced the event was a straightforward theft. Prominent blockchain investigator ZachXBT publicly questioned the explanation, suggesting the situation could instead involve a market maker exit rather than a genuine exploit.
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
“Unsure whether it’s a theft or MM (market maker). I am not buying the team’s story,” he said.
He also implied the incident could have been structured to allow an orderly exit for an active market participant.
Specter previously alleged that some Humanity Protocol executives have questionable historical involvement in disputes, lawsuits, or financial misconduct, further fueling skepticism in parts of the crypto community.
H Token Collapses 89% Amid Panic Selling
Following the news, the H token experienced a severe selloff, plunging by approximately 82% within 24 hours according to CoinGecko data.
The sharp decline reflects heightened uncertainty, liquidity stress, and growing distrust among traders after the reported exploit and conflicting narratives.
Humanity Protocol is a decentralized identity project that uses biometrics and zero-knowledge proofs to allow users to verify their “humanness” without revealing personal data, aiming to improve privacy and reduce bot-driven activity across digital platforms.
