Hacken sees security breach, $hai is being compromised with Ethereum and BSC

Haken, a well-known Web3 security audit platform, recently experienced a serious security breaches. According to Web3 security group Cyvers Alerts, Hacken witnessed a major security exploit as native Crypto Token $hai has been compromised on Ethereum and Binance Smart Chain Networks. As a result, the tokens plummeted 90%, but later recovered only 39% from yesterday. The Web3 security platform has accessed official social media accounts to provide insight into the Hacken security breaches.

Hackers experience serious security breaches as they compromise their $hai token

Data reveals that Hacken’s security breaches reportedly began due to a compromise on the private key linked to the bridge’s deployment. This allowed hackers to overwhelm the deployment wallet. Each vulnerability granted the attacker the authority to randomly mint exclusive tokens. This led to a significant illegal issuance of $hai tokens.

The amount of minted tokens is noteworthy, but the financial losses Hacken has suffered have been limited so far. This is due to liquidity constraints implemented in distributed exchanges (DEXS) hosting $hai tokens. Thus, the attacker was able to exchange nearly $253,000 for a $hai token through the $BNB ecosystem before the violation was contained. Each amount reportedly accounts for a total of up to 900m $hai tokens. Apart from that, Ethereum and Binance smart chains also saw suspicious mint transfers dealing with $hai.

Company suspends cross-chain bridge contracts such as $bsc-$vet and $eth-$vet

According to Cyvers Alerts, Hacken has expressed a prominent response to this security breaches. In this respect, the platform has stopped cross-chain bridge contracts, particularly $bsc-$vet and $eth-$vet. The move is a precautionary measure to prevent additional fraudulent actions. The platform has assured the community that it will provide further details as the research progresses.