Home Humanity Starts H Token Airdrop Following $36M Exploit

Humanity Starts H Token Airdrop Following $36M Exploit

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Humanity Starts H Token Airdrop Following $36M Exploit
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Humanity Protocol has started giving out new H tokens to eligible users after a $36 million hack hit the project earlier this month. The airdrop is 1:1 for users who held H tokens on major exchanges before the attack. This is a key part of the project’s recovery and move to a newly audited ERC-20 token.

Humanity Protocol says users on Binance Alpha, Bybit, Bitget, KuCoin, MEXC, and Gate will get replacement tokens based on their balances before the hack. Some exchanges have already started the migration and will automatically swap eligible holdings for the new token.

This distribution comes after one of the project’s biggest security incidents. Reports say attackers got into privileged wallets by stealing private keys from a developer’s device. The breach hit wallets on Ethereum and BNB Chain, causing losses of about $36 million.

To improve security, Humanity Protocol launched a newly audited ERC-20 token contract and worked with Quantstamp to find wallets linked to the attackers. Tokens tied to hacker-controlled addresses are not included in the airdrop.

The project has also set up a compensation fund and claims portal for users whose holdings were not included in the snapshot-based airdrop. Although the stolen assets have not been recovered, Humanity says the token migration and airdrop are key steps as it gets ready to relaunch its network. The new H token will be used as the platform’s native gas token.

 

Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV

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Written by
Kapil Rajyaguru -

Kapil Rajyaguru is a news editor at 3.0 TV with over 15 years of professional writing experience and more than four years dedicated to the cryptoverse.

An engineer by education and a writer by passion, Kapil brings a rare mix of technical insight and storytelling finesse. A firm believer that cryptocurrencies, blockchain and AI are the building blocks of the future, he crafts in-depth news and analysis to educate, empower and prepare the masses for the next frontier of Web3.

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