Humanity Protocol coin ($H) collapsed by as much as 90% on Tuesday after the project confirmed a private key compromise that allowed an attacker to liquidate stolen tokens directly into the open market.
The H token price dropped from about $0.71 to a low near $0.072, ending the day at $0.1318. This price crash wiped out a rally that had pushed the token to a record high of $0.85 just a week earlier, on June 2.
In fact, before today’s crash, Humanity coin had been one of the top performers in the crypto market this year, initially surging 875% above its 2026 low.
Humanity Protocol Hack Drains $30M as $H Price Eyes More Downside
The mechanism is unusually clean. On June 8, a Humanity Foundation member’s key was compromised. On-chain analyst Arkham reported that more than 17 wallets lost over $30 million, with the funds now spread across six addresses.
Instead of holding the tokens, the attacker kept swapping them for Ethereum, ending up with 16,321 ETH (worth $27.14 million at $1,662.73 each) and 1,764 BNB. This kind of selling caused the massive collapse, as the attacker sold into any available bids, regardless of price.
The market couldn’t handle the selling. Liquidity was only 0.56% of the $373.48 million market cap. Spot trading volume jumped 127.28% to $525 million, making the volume-to-market-cap ratio 140.78%. This shows a full liquidity event, not just normal trading.
Derivatives data further confirmed it. Open interest dropped 77.69% to $77.08 million, while futures trading volume soared 240.84% to $1.36 billion. In the same 24 hours, $9.19 million in positions were liquidated, with $6.64 million of that from long positions, according to CoinGlass data.
In addition, Lookonchain reported that 100 million new H tokens (worth $11.4 million) were minted to the attacker’s BSC address at 02:09 UTC, block 103140908. This extra supply, on top of the original theft, suggests that the Humanity coin could face more downward pressure.
Therefore, if Humanity coin drops below $0.07771 again, it could fall to $0.04155, which is the long-term support and a likely target for a market-maker exit. The upcoming June 25 unlock could also add more tokens to the market, with the attacker’s 100 million newly minted H coins serving as additional supply.
Until this supply is gone, any move toward $0.18 is likely to be met with selling. Buyers may attempt to hold $0.0777, but they must first absorb the selling pressure.
ZachXBT Questions Hack, Flags Possible Market-Maker Exit
Terence Kwok, the founder of Humanity Protocol, told holders to stay away from the bridge and liquidity pools while the team works with security firms and exchange partners.
However, the story around Humanity crypto is no longer just about a hack. On-chain analyst ZachXBT doubts the team’s explanation, calling the incident “possibly staged” and suggesting it could be a planned exit by a market maker the team may have been working with, citing the concentration of supply.
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