Haken, a prominent Web3 security auditing platform, has recently gone through a significant security breach. As per Cyvers Alerts, a Web3 security group, Hacken has witnessed a huge security exploit as its native crypto token $HAI has been compromised on Ethereum as well as Binance Smart Chain networks. As a result, the token plummeted 90% but later recovered a bit now down only 39% since yesterday. The Web3 security platform took to its official social media account to offer insights into the Hacken security breach.
Hacken Experiences Significant Security Breach as Hacker Compromises $HAI Token
The data reveals that Hacken’s security breach reportedly began due to the compromise of the private key that was linked to the bridge deployment. This permitted the hacker to overpower the deployment wallet. The respective vulnerability gave the attacker the authority to randomly mint exclusive tokens. This led to a significant illegitimate issuance of the $HAI tokens.
Though the amount of the minted tokens is noteworthy, the financial damage incurred by Hacken is limited up till now. This is because of the liquidity constraints implemented in the decentralized exchanges (DEXs) that host the $HAI token. Hence, the attacker was just able to swap nearly $253,000 in $HAI tokens via the $BNB ecosystem before the containment of the breach. The respective amount reportedly accounts for up to 900M $HAI tokens in total. Apart from that, the Ethereum and Binance Smart Chain also saw suspicious mint transfers dealing with $HAI.
Company Halts Cross-Chain Bridge Contracts Like $BSC-$VET and $ETH-$VET
According to Cyvers Alerts, Hacken has expressed a notable response to this security breach. In this respect, the platform has halted the cross-chain bridge contracts, particularly $BSC-$VET and $ETH-$VET. This move is a precautionary measure for the prevention of additional unauthorized actions. The platform has assured the community that it will provide further details as investigation progresses.
