The Hacken Token (HAI) suffered a devastating 99% price collapse after a hacker exploited a leaked private key to mint and dump $250,000 worth of tokens. The cybersecurity firm confirmed on X that the compromised key belonged to an account with minting privileges on Ethereum and BNB Chain. The attack caused HAI’s price to nosedive from $0.015 to $0.000056 on decentralized exchanges.

Hacken responded by revoking the compromised account’s access and regaining control over the contract. While core infrastructure remains secure, the firm admitted the attacker escaped with an estimated $250,000. The breach was linked to recent architectural changes in Hacken’s blockchain bridge, which ironically aimed to prevent such vulnerabilities.

In response, Hacken has suspended bridge transactions across Ethereum and BNB Chain indefinitely. The firm warned users of fake airdrop announcements and clarified no such giveaways are planned. CEO Dyma Budorin also stated that any HAI tokens purchased after the breach will not be eligible under the upcoming tokenomics plan.

Looking forward, Hacken aims to convert HAI into a regulated security token tied to Hacken’s equity, merging token utility with shareholder rights. All legitimate user balances will remain traceable, with a token swap mechanism to be introduced soon.

This breach adds to a troubling trend in 2025, with over $1.63 billion in crypto stolen during Q1, according to PeckShield. In a similar incident, Meta Pool lost $132,000 in ETH after a hacker minted millions worth of mpETH tokens earlier this June.