Humanity Protocol Hit by $32M Hack on June 9; ZachXBT Questions If Exit Was Staged

On June 9, Humanity Protocol, a biometric blockchain identity project, suffered a security breach that resulted in approximately $32 million drained from over 17 wallets, causing the H token to crash 90% within hours. According to on-chain data from Arkham Intelligence and Blockaid, attackers minted 100 million H tokens on Ethereum, converting $23.7 million to ETH while leaving $7.9 million in H tokens, then extended the exploit to BNB Chain to mint an additional $12.9 million worth of tokens. The project's official account confirmed that private keys of a Humanity Foundation member were compromised.

On-chain investigator ZachXBT publicly questioned whether the incident was a genuine hack or a staged exit by insiders, citing unusual patterns: all H tokens were sold on DEXs rather than centralized exchanges, and the project appeared to be working with an active market maker given concentrated token supply. ZachXBT stated, "The incident seems possibly staged. It's a convenient way for the active MM to have exited," though he later walked back some concerns after additional analysis.