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 group 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 based mostly 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 onerous, and your persistence by way of this has meant every little thing to us,” Humanity Protocol mentioned.
Who Will get the Airdrop Mechanically
Normal externally owned accounts holding H on any of the three chains at snapshot time will obtain the brand new token immediately, 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 good contracts on the snapshot can’t be mechanically attributed to particular person holders. These balances will transfer to a vault, and the undertaking mentioned it’ll coordinate with affected events on distribution.
Claims Fund for Advanced Instances
Humanity Protocol has established a separate H Compensation Fund to deal with conditions the automated airdrop can’t 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.
Submit-snapshot consumers looking for compensation should full id 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 carefully with the related authorities on AML compliance,” Humanity Protocol mentioned.
Quantstamp’s investigation abstract, revealed by way of Humanity Protocol’s personal web site on June 11, traced the assault to a phishing e 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 extra tokens on BSC. The attacker signed the malware with a Hancom digital certificates, a technique Quantstamp described as “attribute of DPRK intrusions.”
Mainnet Relaunch Forward
Humanity Protocol mentioned it plans to relaunch Humanity Mainnet within the coming weeks, with the brand new H token serving because the native fuel token. The undertaking is coordinating with centralized exchanges, bridge suppliers, and liquidity companions on the migration timeline. Change customers ought to observe their very own platform’s bulletins for token migration directions.
The undertaking warned holders to keep away from faux 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 id verification. Humanity Protocol has additionally not disclosed the overall H token steadiness sitting in good contracts that may switch to the vault.
The Defiant’s unique 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.
