Hacken Bridge Exploited for $250K in HAI Tokens After Private Key Leak

Hacken Bridge Exploited for $250K in HAI Tokens After Private Key Leak

Security lapse during infrastructure upgrade leads to unauthorized token minting and market dump

Hacken confirms exploit, $250K in unauthorized HAI minted

Blockchain security firm Hacken has confirmed a significant exploit targeting its cross-chain bridge, resulting in the unauthorized minting of 900 million HAI tokens on Ethereum and BNB Chain.

The breach occurred on June 21, when a compromised private key linked to a contract with minting privileges allowed a malicious actor to generate the tokens, which were later dumped on decentralized exchanges.

Infrastructure upgrade inadvertently exposed minting key

According to Hacken, the breach happened as the team was making architectural changes to its bridge infrastructure—updates aimed at enhancing security. However, during the process, a critical key was accidentally exposed.

• Hacken’s blockchain bridge was originally designed during an earlier stage of the market, with different technical standards.
• Redesigning an existing bridge requires contract migration, a complex and risky process, both legally and technically.

Despite swift action to revoke the compromised minter account and pause all bridge transactions across Ethereum and BNB Chain, the attacker successfully offloaded approximately $250,000 worth of tokens before low liquidity constrained further losses.

Community warned as Hacken initiates damage control

In response to the incident:

• Users have been urged to avoid interacting with HAI tokens, especially regarding suspicious airdrop claims.
• Hacken CEO Dyma Budorin acknowledged that the absence of a multisig bridge infrastructure was a key weakness that contributed to the breach.

Budorin assured the community that:

• Hacken’s core infrastructure remains secure and unaffected.
• A snapshot of legitimate user balances has been taken.
• Tokens purchased post-hack on Ethereum and BNB Chain will not be recognized in the upcoming tokenomics update.

HAI token faces steep price collapse, partial recovery

The exploit triggered a near-total collapse in HAI’s market value:

• Price plunged by 99%, from $0.015 to $0.000056.
• Partial recovery followed, with HAI rebounding to $0.00967 at the time of writing.

Future plans: From utility token to regulated security

The incident has accelerated Hacken’s long-term strategy to:

• Transform HAI into a regulated financial instrument, blending token utility with equity rights.
• Convert HAI into a security token representing Hacken equity, aimed at enhancing investor protection and project credibility.

Notably, Hacken’s own research last year identified access control vulnerabilities, such as private key leaks, as the leading cause of crypto hack losses, accounting for a staggering 78% of total damages in 2024.