Cybersecurity firm Hacken has blamed a private key leak that allowed a bad actor to mint and loot $250,000 worth of the ecosystem’s native Hacken Token (HAI), causing it to plummet around 99% on Saturday.

In an X post, Hacken data-ct-non-breakable=”null” href=”https://x.com/hackenclub/status/1936487412101742852″ rel=”noopener nofollow” target=”_blank” title=”null”>said the private key was connected to an account with a minting role on the data-ct-non-breakable=”null” href=”https://cointelegraph.com/learn/articles/a-beginners-guide-to-the-different-types-of-blockchain-networks” title=”null”>Ethereum and BNB Chain, which led to the “unauthorized HAI minting and a dump” on decentralized exchanges — data-ct-non-breakable=”null” href=”https://coinmarketcap.com/currencies/hackenai/” rel=”noopener nofollow” target=”_blank” title=”null”>causing a 99% drop in the value of HAI from $0.015 to $0.000056.

HAI is currently trading at $0.00026.

Hacken team members…

Cybersecurity firm Hacken has blamed a private key leak that allowed a bad actor to mint and loot $250,000 worth of the ecosystem’s native Hacken Token (HAI), causing it to plummet around 99% on Saturday.

In an X post, Hacken data-ct-non-breakable=”null” href=”https://x.com/hackenclub/status/1936487412101742852″ rel=”noopener nofollow” target=”_blank” title=”null”>said the private key was connected to an account with a minting role on the data-ct-non-breakable=”null” href=”https://cointelegraph.com/learn/articles/a-beginners-guide-to-the-different-types-of-blockchain-networks” title=”null”>Ethereum and BNB Chain, which led to the “unauthorized HAI minting and a dump” on decentralized exchanges — data-ct-non-breakable=”null” href=”https://coinmarketcap.com/currencies/hackenai/” rel=”noopener nofollow” target=”_blank” title=”null”>causing a 99% drop in the value of HAI from $0.015 to $0.000056.

HAI is currently trading at $0.00026.

Hacken team members…