Humanity Protocol has introduced a full token migration and 1:1 airdrop of a brand new H token, the undertaking’s first concrete step to compensate holders after the $36 million exploit on June 8.
The staff posted the restoration plan on X on Monday. It confirmed that the previous H token on Ethereum, $BNB Chain, and Humanity Mainnet has been sunsetted and changed with a newly audited ERC-20 contract deployed on Ethereum.
New tokens shall be airdropped 1:1 to holders primarily based on snapshots taken on Ethereum, $BNB Chain and Humanity Mainnet, on June 8, simply earlier than the exploit. The H token was down roughly 27% on Monday to round $0.22, per CoinGecko, and has misplaced about 73% from its June 2 all-time excessive of $0.84.
“We all know the wait has been laborious, and your persistence via this has meant the whole lot to us,” Humanity Protocol stated.
Who Will get the Airdrop Robotically
Commonplace externally owned accounts holding H on any of the three chains at snapshot time will obtain the brand new token instantly, with no motion required. Wallets linked to the attacker and addresses recognized by safety agency Quantstamp through the post-exploit investigation have been excluded.
H held inside liquidity swimming pools, vaults, or sensible contracts on the snapshot can’t be robotically attributed to particular person holders. These balances will transfer to a vault, and the undertaking stated it can coordinate with affected events on distribution.
Claims Fund for Advanced Circumstances
Humanity Protocol has established a separate H Compensation Fund to deal with conditions the automated airdrop can not cowl. The three classes are: holders with H in third-party protocol integrations, decentralized liquidity pool publicity, and customers who purchased H after the June 8 snapshot and nonetheless maintain the token.
Publish-snapshot consumers searching for compensation should full identification verification earlier than any funds are processed. The undertaking cited the DPRK affiliation flagged by Quantstamp as the rationale for the compliance requirement.
“As a result of the exploit has been linked to DPRK-affiliated actors, we’re working intently with the related authorities on AML compliance,” Humanity Protocol stated.
Quantstamp’s investigation abstract, revealed via Humanity Protocol’s personal web site on June 11, traced the assault to a phishing electronic mail impersonating South Korean alternate Bithumb, which put in malware on a director’s Home windows machine and gave attackers distant entry to non-public keys. The breach drained roughly 141.18 million H tokens from an Ethereum bridge and enabled the minting of about 100 million further tokens on BSC. The attacker signed the malware with a Hancom digital certificates, a way Quantstamp described as “attribute of DPRK intrusions.”
Mainnet Relaunch Forward
Humanity Protocol stated it plans to relaunch Humanity Mainnet within the coming weeks, with the brand new H token serving because the native gasoline token. The undertaking is coordinating with centralized exchanges, bridge suppliers, and liquidity companions on the migration timeline. Alternate customers ought to comply with their very own platform’s bulletins for token migration directions.
The undertaking warned holders to keep away from pretend airdrop or declare hyperlinks, stating official communications will solely come from verified Humanity Protocol channels.
What Stays Unresolved
The stolen funds haven’t been recovered. Quantstamp’s investigation famous attacker-controlled wallets held over $21 million in ETH on the time of its June 11 report, with $BNB-side proceeds nonetheless being tallied.
The compensation fund doesn’t specify how post-snapshot consumers are individually evaluated past identification verification. Humanity Protocol has additionally not disclosed the full H token steadiness sitting in sensible contracts that may switch to the vault.
The Defiant’s authentic June 9 protection documented the preliminary breach. The undertaking’s Quantstamp forensics and Monday’s compensation announcement mark the 2 concrete public steps taken since.
