On June 21, 2025, the Hacken token (HAI) experienced a dramatic drop – its value decreased by nearly 98% within minutes following reports of an attack on the project’s smart contracts. The incident affected users on both the Ethereum and BNB Chain networks and caused significant uproar in the cryptocurrency community.
This is reported by Finway
Suspected Key Leak or Vulnerability in Contracts
The attack was first reported by the analytics company Peckshield, and Hacken developers confirmed the incident. According to Hacken’s CEO, Dmytro Budorin, various theories regarding the incident are being considered, including the compromise of private keys or a vulnerability in the smart contracts. However, the team has not yet drawn any final conclusions. For security reasons, bridges to Ethereum and BNB Chain have been disabled, and currently, the HAI token is only available on the VeChain network.
Hacken Team Prepares for Recovery and Transitions to Security Token
As a result of the attack, users lost significant funds – the exact amount of losses is currently unknown. The Hacken team has promptly initiated an investigation into the incident and is also working on the legal transformation of HAI into a security token. This is expected to provide the asset with additional legal guarantees and protection for investors.
“I will never forget this night. Yes, we faced a problem. It is painful and stressful. But we are Hacken. This is a moment of growth, and I am grateful for this challenge,” wrote Budorin.
He also emphasized that the team is keeping the situation under control and continues to work on resolving the issue:
BSC and ETH HAI contracts were compromised. How? We are still investigating. Private keys leakage? Maybe. But unlikely. I assure you, this will have no effect on our project journey. All is under control — Dyma Budorin.
Hacken is known as a leading audit provider in the Web3 space. The company specializes in identifying vulnerabilities in DeFi, NFT, and blockchain applications, organizes bug bounty programs, and releases cybersecurity reports. The HAI token is used for payment of services and as a governance tool on the platform.