Loading Search...
Hacken’s HAI token plummeted 97 percent after a bridge exploit compromised private keys, triggering massive unauthorized minting. The attack has frozen bridges and shocked the Web3 security community.
Author: Tanishq Bodh
June 21, 2025 – HAI, the native token of Web3 security firm Hacken, crashed 97 percent on June 21 after a critical exploit compromised its Ethereum and BNB Smart Chain (BSC) contracts. The attacker gained access to private keys, minted tokens without limit, and triggered a rapid market sell-off.
The attack has frozen bridges across the ecosystem and left the Web3 security community grappling with questions about trust, governance, and the risks facing even the industry’s top audit firms.
Hacken confirmed that the private key tied to its bridge deployment was compromised. Using this key, the attacker minted large volumes of HAI on both Ethereum and BSC, triggering massive sell pressure across both centralized and decentralized markets.
With liquidity overwhelmed, the token price collapsed from approximately $0.01 to near zero within hours, erasing hundreds of millions in market value. Hacken responded by freezing all cross-chain bridges involving Ethereum, BSC, and VeChain.
At present:
Doc 🥕🔺
@DeDocJeremy
@Cointelegraph Ouch, that's a brutal rug. Crypto security is no joke, fam.
🚨 TODAY: Hacken's $HAI dropped 97% after BSC & ETH contracts were compromised. All bridges shut and only VeChain is valid. https://t.co/DAS68wiOOr
12:06 PM·Jun 21, 2025
The incident has hit particularly hard because of Hacken’s reputation as a leading Web3 security firm. Known for audits, penetration testing, and anti-exploit tooling, Hacken now faces a protocol-level exploit of its own—a blow that raises uncomfortable questions about systemic security risks across the space.
“Smart contracts remain inherently risky, and this attack highlights how one private key compromise can wipe out an entire token ecosystem,” noted one security researcher on X.
The consequences of the hack are significant:
Hacken’s team has yet to announce a clear recovery plan, though investigations are ongoing. The path to restoring trust will likely require full transparency and decisive action in the coming weeks.
The broader Web3 security community is watching closely. “If a firm like Hacken can fall victim to this, what does it say about where we are with bridge security and key management?” asked one prominent DeFi builder.
The incident also reinforces longstanding concerns about bridge design, which remain a persistent attack vector across crypto markets.
Founded in 2017, Hacken was one of the first security firms in crypto to offer decentralized bug bounty platforms and has previously worked with major protocols including Binance, KuCoin, and Gate.io.
Our Crypto Talk is committed to unbiased, transparent, and true reporting to the best of our knowledge. This news article aims to provide accurate information in a timely manner. However, we advise the readers to verify facts independently and consult a professional before making any decisions based on the content since our sources could be wrong too. Check our Terms and conditions for more info.
ZachXBT Exposes Crypto Scam Network Fueling Fake War Panic
CoinDCX Founders Remanded in ₹71.6 Lakh ($86K) Fraud Case
Resolv Labs $80M USR Exploit Forces Protocol Pause
SMCI Co Founder Arrested Smuggling $2.5B Nvidia GPUs To China
ZachXBT Exposes Crypto Scam Network Fueling Fake War Panic
CoinDCX Founders Remanded in ₹71.6 Lakh ($86K) Fraud Case
Resolv Labs $80M USR Exploit Forces Protocol Pause
SMCI Co Founder Arrested Smuggling $2.5B Nvidia GPUs To China
