hodler

9 Jun 2026, 10:57

ZEC Rallies Above $470 as Zcash Announces Ironwood Upgrade for Late July Ending

After losing almost 60% of its value, ZEC, the native asset of the privacy network Zcash, is finally recovering. Within the past few days, the coin has rallied above $400, retracing its steps from the $300 range. The price recovery comes as the Zcash team unveils an upgrade that will patch an integrity flaw in the network. The Ironwood Upgrade, scheduled for late July, aims to enable users to independently verify the circulating ZEC supply, preventing the minting of counterfeit coins. Zcash’s Ironwood Upgrade Scheduled for July The need to deploy the Ironwood upgrade arose after a series of events that began after Zcash researcher Taylor Hornby discovered a vulnerability affecting the network’s latest shielded pool named Orchard. Hornby discovered a counterfeiting vulnerability in Orchard, and the network’s team had to deploy a two-stage upgrade to fix the issue by June 2. Amid an uproar from the crypto community, developers admitted that there was no way to confirm whether attackers had exploited the vulnerability before the fix. They said it was possible that bad actors had minted counterfeit ZEC coins through the bug, increasing the circulating supply. However, there was no way to audit the circulating ZEC supply and confirm that no such thing had happened. Hence, the Ironwood upgrade. Upon its activation in late July, the upgrade will implement a turnstile mechanism to protect Zcash users from hypothetical counterfeit coins. It will mark the transition of ZEC from the Orchard to the Ironwood pool, allowing people running nodes to audit total supply without trusting developers. Notably, the Ironwood pool uses the same Orchard protocol, but starts fresh. Wallets will no longer send or receive payments on the old Orchard pool; the funds will be redirected to the new Ironwood pool. These changes will not surface to the users. ZEC Recovers, Rallies Above $470 One key significance of the Ironwood upgrade is the reassurance it will give to the Zcash community that no counterfeiting occurred before the Orchard bug was fixed. This will hopefully prevent more selloffs that could lead to a significant decline in the asset’s price as witnessed last weekend. Shortly after news of the Zcash bug began to make the rounds, BitMEX co-founder Arthur Hayes sold off his entire ZEC holdings. Hayes’ exit from his ZEC position significantly increased selling pressure on the asset as fear, uncertainty, and doubt spread, dragging the coin close to $255 from $578. As developers are working to address the issue, ZEC has risen more than 56% this week. At the time of writing, the asset was changing hands above $470, per data from CoinMarketCap. The post ZEC Rallies Above $470 as Zcash Announces Ironwood Upgrade for Late July Ending appeared first on CryptoPotato .

9 Jun 2026, 10:47

Can H token bounce back after Humanity Protocol’s $32 million exploit?

H, the native token of Humanity Protocol, is the worst performer among the top 100 cryptocurrencies by market cap. The coin is down by roughly 80% in the last 24 hours and is now trading at $0.1549. The bearish performance comes after reports emerged that wallets connected to Humanity Protocol have been targeted in an ongoing exploit. The issue was first flagged on Monday after 17 wallets holding the project’s native H token were reportedly compromised. Initial estimates placed losses at around $5 million, but later updates suggested the damage had escalated significantly. Humanity Protocol loses roughly $32 million in the exploit The primary catalyst behind H’s decline is the exploit of the Humanity Protocol wallet. According to the onchain analyst Specter, the estimated losses were around $32 million. Of the stolen assets, around $23.7 million was swapped into Ethereum (ETH), and roughly $7.9 million remains held in H tokens. Specter noted that the root cause remains unclear but suggested a shared vulnerability across affected wallets tied to Humanity Protocol. https://twitter.com/zachxbt/status/2064187246815989893 Following the reports, Humanity Protocol founder Terence Kwok confirmed the incident on X, stating that the breach stemmed from compromised private keys belonging to a member of the Humanity Foundation. Kwok said the team is working with security experts and exchange partners to address the situation, adding: “Protecting this community is our responsibility, and we’ll keep you updated every step of the way.” https://twitter.com/zachxbt/status/2064187246815989893 Later in the day, Specter claimed the attacker minted 100 million H tokens, which were subsequently dumped for BNB. This raised further concerns about possible deeper protocol-level access beyond wallet compromise. Not all observers are convinced the incident was a straightforward hack. Onchain investigator ZachXBT publicly questioned the explanation, suggesting the event could potentially involve a market maker exit rather than a genuine exploit. He said he was “not buying the team’s story,” implying possible coordinated liquidity exit activity. https://twitter.com/zachxbt/status/2064187246815989893 Specter also alleged that some executives linked to Humanity Protocol have questionable past involvement in financial disputes and legal issues, though these claims remain unverified. H technical outlook: Will H token continue to decline? The H/USD 4-hour chart is extremely bearish as the coin is down by roughly 80% in the last 24 hours. The coin dropped from $0.7300 on Monday to now stand at $0.22. The momentum indicators suggest that the selloff could continue in the near term. The incident has intensified scrutiny around the protocol’s security practices and the credibility of its internal controls. The RSI of 28 means that H is currently in the oversold region, after briefly dropping to the $0.06 level. The MACD lines are also within the negative territory, adding further confluence to the bearish narrative. https://twitter.com/zachxbt/status/2064187246815989893 If the selloff continues, H could drop to the $0.06 level again in the near term. Failure to defend this support could see it extend its decline below $0.05. However, if the token recovers, its price could hit the $0.25 resistance over the next few hours or days. An extended rally would allow it to reclaim the $0.35 psychological level in the near term. The post Can H token bounce back after Humanity Protocol’s $32 million exploit? appeared first on Invezz

9 Jun 2026, 10:30

Humanity Protocol Loses $32M in Private Key Hack as ZachXBT Calls Incident ‘Possibly Staged’

Humanity Protocol’s H token has crashed nearly 90% after wallets tied to the project were drained of more than $32 million, a breach onchain investigator ZachXBT says may have been “possibly staged.” A Private Key Breach Turns Into a Firestorm The exploit hit Humanity Protocol, an identity-verification network, early on June 9. According to onchain

9 Jun 2026, 10:24

ZEC Price Rebounds as Zcash Finalizes Ironwood Security Upgrade

The upgrade follows the discovery of a critical vulnerability in the Orchard shielded pool that could have enabled the minting of counterfeit ZEC. Ironwood will introduce a new shielded pool, redirect new transactions away from the existing Orchard pool, and use Zcash’s turnstile mechanism to ensure the circulating supply stays within valid limits. Zcash Targets July Ironwood Upgrade Zcash developers have reached an agreement on a series of consensus rule changes that will be introduced as part of the network’s upcoming Ironwood upgrade. This follows the discovery of a critical vulnerability in the Orchard shielded pool that could have allowed the creation of unlimited counterfeit ZEC tokens. The proposed changes were outlined by Zcash developer Sean Bowe, who explained that Ironwood will introduce a new shielded pool built using the Orchard protocol. The upgrade is designed to strengthen the network’s security while preserving the privacy features that have made Zcash one of the leading privacy-focused cryptos. Under the new design, the Orchard protocol’s transaction circuit will include a special flag that is capable of disabling payments between users in the existing Orchard pool while still allowing users to generate change notes. According to Bowe, this functionality serves as an important privacy safeguard and helps to mitigate risks associated with the previously identified vulnerability. Once Ironwood is activated, the flag will be enabled on the current Orchard pool. Wallet software will prevent new incoming payments from being directed to the old pool by restricting the valueBalance field, effectively ensuring that new transactions are routed to the newly created shielded pool. Orchard currently serves as Zcash’s primary privacy-preserving transaction pool, allowing users to send and receive ZEC through zero-knowledge proofs that verify transaction validity without revealing sensitive information. Bowe stated that the upgrade will leverage Zcash’s existing turnstile mechanism to maintain a verifiable bound on the circulating supply of ZEC. This approach is intended to ensure that the amount of ZEC available for transactions never exceeds the amount that should legitimately exist on the network. The urgency of the upgrade stems from the recent disclosure of a severe flaw in the Orchard shielded pool. Due to the strong privacy guarantees provided by the protocol, developers were unable to determine whether any counterfeit ZEC had actually been created before the vulnerability was patched or, if so, how much may have been minted. By encouraging users to migrate funds from the old Orchard pool to the new Ironwood pool, developers hope to reduce exposure to any potential risks while eventually providing evidence that no unauthorized token creation occurred. The Zcash team is now focusing on implementation, specification development, ecosystem support, security audits, and formal verification processes ahead of activation. While the exact launch date is unknown, the Zcash Open Development Lab indicated that it is targeting late July for the Ironwood upgrade. ZEC’s price action over the past 24 hours (Source: CoinCodex) The vulnerability disclosure initially shook investor confidence, and led to a sharp selloff that saw ZEC plunge by more than 50% to around $303. However, the cryptocurrency has since recovered. ZEC gained more than 10% over the past 24 hours and was trading close to $470 at press time.

9 Jun 2026, 10:15

Humanity Protocol Exploit Drains $34M in 13 Hours as H Token Crashes 99.9%

BitcoinWorld Humanity Protocol Exploit Drains $34M in 13 Hours as H Token Crashes 99.9% A catastrophic security breach at Humanity Protocol has led to the unauthorized minting and dumping of its native H token, with the attack now exceeding 13 hours and causing the token’s value to plummet by 99.9%. According to blockchain security analyst EmberCN, the attacker exploited a private key leak to mint H tokens directly on the BNB Smart Chain (BSC), systematically selling them to drain the project’s liquidity pool. Attack Timeline and Scale The exploit began when an attacker gained access to a private key linked to Humanity Protocol’s token contract on BSC. Using this access, the attacker minted approximately 300 million H tokens — a massive supply increase that instantly overwhelmed the token’s liquidity. Each batch of minted tokens was immediately swapped for BNB and other stablecoins, rapidly depleting the pool. As of the latest reports, the attacker has netted roughly $34 million from the sales. The liquidity in the H token pool on BSC has collapsed to just $13, effectively rendering the token untradeable. The H token price has cratered by 99.9%, leaving holders with near-worthless assets. Root Cause: Private Key Compromise Early investigations point to a private key leak as the entry point for the exploit. Private keys are the cryptographic credentials that control token minting and contract administration. When compromised, they grant an attacker full control over token supply and contract functions. In this case, the key allowed unrestricted minting — a vulnerability that should have been mitigated through multi-signature controls or time-locked administrative functions. Humanity Protocol has not yet issued an official statement detailing how the key was compromised or what steps are being taken to recover funds. The ongoing nature of the attack — now lasting over 13 hours — suggests that the team may have lost control of the contract entirely, or that remediation efforts have been slow. Impact on Holders and Market Confidence For investors who held H tokens before the exploit, the financial losses are total. The token’s price collapse and the near-complete drainage of liquidity mean that even if trading resumes, the token’s value has been fundamentally destroyed. The incident also raises serious questions about the security practices of projects launching on BSC, where cross-chain bridges and token contracts have been frequent targets of similar exploits. This event adds to a growing list of high-profile exploits in decentralized finance (DeFi) where private key management failures have led to multi-million dollar losses. It underscores the critical importance of secure key storage, multi-signature wallets, and time-locked administrative functions for token contracts. Conclusion The Humanity Protocol exploit represents a severe failure in operational security, resulting in a $34 million loss and the effective destruction of the H token’s market. The incident serves as a stark reminder to both developers and investors that private key security is the single most critical line of defense in blockchain-based projects. As the attack continues, the community awaits further details from the Humanity Protocol team regarding recovery plans and whether any funds can be reclaimed. FAQs Q1: How did the Humanity Protocol exploit happen? A1: The attacker obtained a private key that controlled the H token’s minting function on the BNB Smart Chain. This allowed them to create new tokens at will and sell them for profit, draining the liquidity pool. Q2: How much money was stolen in the exploit? A2: The attacker minted 300 million H tokens and sold them for approximately $34 million. The liquidity pool has been nearly fully drained, leaving only $13 in the pool. Q3: What happened to the H token price? A3: The H token price crashed by 99.9%, making it essentially worthless. The token is currently untradeable due to the lack of liquidity. This post Humanity Protocol Exploit Drains $34M in 13 Hours as H Token Crashes 99.9% first appeared on BitcoinWorld .

9 Jun 2026, 09:16

Humanity Protocol suffers Private Key theft, H token crashes 90%

Humanity Protocol is the latest Web3 protocol to suffer an exploit, where the native token lost 90% of its value. The protocol’s holdings were compromised after a team wallet’s private keys were exposed. Humanity lost an immediate $4M from the wallet exploit, but the losses may be as large as $31M after the native H token also erased up to 90% of its value. The team warned against interacting with bridges and liquidity pools until control over multisig wallets is recovered. https://x.com/Humanityprot/status/2064167144120877127 Following the exploit, H recovered slightly, but still carried an 83% loss, down to $0.12. In the week before the crash, H performed one of its biggest vertical rallies and held near its all-time highs of up to $0.80. Humanity crashed by as much as 90% after a compromised multisig wallet led to $31M in losses from direct theft of H tokens. | Source: Coingecko Humanity is the latest Web3 project to suffer an exploit, exposing further weaknesses in security . For the past year, hacks and exploits took over $1.47B from various protocols, targeting both large projects like KelpDAO, and niche liquidity hubs. Humanity Protocol aimed to combine privacy with proof of humanity, using palm prints to secure an on-chain identity. The protocol aimed to become multi-chain, and was also exposed to the risk of bridging and drained wallets. What happened to Humanity Protocol? The underlying reason for the hack was that a member of the Humanity Foundation exposed their private keys. Over 19 wallets were drained, with up to $31M in estimated losses, as reported by DeFi llama. The exact estimates vary based on different on-chain data. The exploit was ongoing, with more illicit minting of H, and additional swaps through BNB Chain. The latest transaction intercepted through the attacker’s wallets created another 100M H tokens. The initial reports showed wallets that interacted with Humanity Protocol were drained. Later, it became clear that all wallets were controlled by the team. Humanity Protocol also shows a high concentration of H tokens held by team wallets, as well as by wallet clusters, based on Bubblemaps data . The coincidence of dumping H tokens just days after they reached new price records also raised potential questions on a deliberate exit disguised as a hack. H tokens have been trading for a little under a year, still relying on Gate and Bybit for their liquidity. After the hack, the H tokens stolen were stored into five destination addresses, with most of the funds immediately swapped into ETH. The fast movement of funds after the exploit and the shift to ETH also resembles the approach of DPRK hackers. The recent hack also happened before one of the expected big unlocks of H tokens. On June 25, Humanity Protocol is scheduled to unlock 2.86% of the total supply, or over 15% of the current free float. Humanity Protocol lost money for top VC backers Humanity Protocol was not a niche Web3 project. The protocol raised $50M to reach a valuation of $1.1B. Pantera Capital was the project’s main backer for the second strategic raising round of $20M. Animoca Brands has also supported the project’s seed round. The project has been running since 2024, and is not a recent overhyped token, causing further damage to even legitimate-looking Web3 startups. As a result, Humanity Protocol was operating under the playbook of VC-backed, low-float tokens. The low float allowed for dramatic appreciation of the H token, despite the recent worsening sentiment of crypto markets. On-chain researcher ZachXBT also noted Humanity Protocol most likely used aggressive market makers to achieve peak H valuations, demanding disclosure of the project’s trading practices. The smartest crypto minds already read our newsletter. Want in? Join them .