Hacker Exploits Leak, Hacken Token Plunges 99%

- Hacken token plummets by 99% after security breach - Firm plans to transform token to regulated financial tool On June 23, 2025, CoinDesk reported a significant security breach where cybersecurity firm Hacken’s Hacken Token (HAI) plunged 99% in value. This plunge occurred after a hacker exploited a private key leak, subsequently minting and dumping $250,000 worth of HAI tokens, which caused the dramatic value decline. According to the CoinDesk report on June 23, architectural changes to Hacken’s blockchain bridge compromised the private key. In response, Hacken revoked the minter account from the token contract to secure the compromised account. Despite this action, the firm acknowledged the incident caused significant reputational damage. The CoinDesk report on June 23 also detailed that Hacken CEO Dyma Budorin announced plans to accelerate HAI's transformation. The token will become a regulated financial tool, combining token utility with equity rights. Furthermore, Hacken will not support tokens purchased after the hack on the affected BNB Smart Chain and Ethereum networks in the new tokenomics. However, Hacken confirmed it can still track legitimate user balances for a future swap. As a precautionary measure, the company has also paused bridge transactions on Ethereum and BNB Chain. CoinDesk also noted that as of June 23, 10:18 UTC, Ethereum (ETH) was trading at $2,245.92, a 0.20% decrease in 24-hour trading volume. Meanwhile, BNB (BNB) was trading at $620.60, with its 24-hour trading volume down 1.33%.