hacken exposes Major HAI Token Exploit on Ethereum and BNB chain
Blockchain security firm Hacken has uncovered a important security breach. On June 21,an unauthorized party minted 900 million HAI tokens on Ethereum and BNB chain. the attacker exploited a compromised private key, linked to a contract with minting rights. This key was exposed during infrastructure updates aimed at enhancing security.
The compromised tokens were quickly sold on decentralized exchanges. Hacken revealed that the private key was exposed while they were updating their blockchain bridge. This bridge allows token transfers between Ethereum and BNB Chain.
Hacken’s CEO, Dyma Budorin, admitted that the lack of a multisig bridge infrastructure was a factor in the breach. He assured users that Hacken’s core infrastructure remains secure. The team has paused bridge transactions and revoked the affected minter account’s access.
the attacker managed to steal around $250,000. Hacken advised users to avoid interacting with the token until further notice. They also warned against online airdrop scams. Tokens bought after the hack won’t be supported in the upcoming tokenomics update. A snapshot has been taken to track legitimate user balances.
Following the incident, Hacken plans to restructure HAI into a regulated financial instrument. This will combine token utility with equity rights.
HAI’s value dropped nearly 99% after the breach, from $0.015 to $0.000056. It has as partially recovered to $0.00967.A Hacken report last year found that private key leaks were the leading cause of crypto hack losses in 2024, accounting for 78% of total damages.
