Hacken: Recent security incidents were caused by "human error" leading to private key leakage

PANews reported on June 23 that according to The Block, Ukrainian Web3 cybersecurity company Hacken said that the reason why its native HAI token was minted in almost unlimited quantities and its value plummeted by about 98% was due to the leakage of private keys caused by "human error". In the incident, the private key of an account with minting authority was leaked, and the attacker made a profit of about $250,000, minted about 900 million HAI tokens on the Ethereum and BNB chains, and the token supply almost doubled. The price once plummeted by 97%, and the market value fell from about $12.7 million to $7.2 million. It recovered slightly on Sunday.

Hacken co-founder Dyma Budorin admitted that he was responsible for not enabling the multi-signature bridge mechanism in a timely manner. The team has revoked the permissions of the account involved, saying that no other accounts have been leaked, and will publish an analysis report after investigation. In addition, Hacken hinted that it may conduct a token swap to compensate holders in the future, saying that this is a "major merger between HAI and Hacken equity shareholders, with a valuation of over $100 million."

Earlier on June 21, it was reported that the Hacken token $HAI plummeted due to a major security vulnerability and was suspected of being manipulated by the contract.