On June 21, 2025, Hacken experienced a significant security breach affecting its HAI token. The incident was linked to a human error in key management.
Details of the Security Breach
The security breach on HAI token occurred on June 21, 2025, due to human error in key management. Hackers were able to mint HAI tokens on Ethereum and Binance Smart Chain, leading to a **98%** crash in value and estimated losses of **$5 million**.
Market Impact
The breach resulted in a sharp decline in Market capitalization for Hacken, undermining confidence in cross-chain protocols. Security measures in this area are becoming increasingly necessary. Experts noted that the impacted chains included Ethereum, BSC, and VeChain.
Need for Security Enhancements
Analytical company Cyvers Alerts analyzed the situation and indicated that the main issue was a vulnerability related to a private key used for bridge deployment. Experts emphasize that stricter regulatory measures and technological improvements are necessary to mitigate such vulnerabilities.
The events surrounding the HAI token underline the importance of adhering to security protocols in the digital space and raise concerns about the reliability of cross-chain protocols.
