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Cybersecurity firm Hacken faced a significant setback after a private key leak enabled unauthorized minting and theft of $250,000 worth of its native Hacken Token (HAI), causing a dramatic 99% price crash.
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The breach occurred amid architectural changes to Hacken’s blockchain bridge, highlighting the complexities and risks involved in upgrading decentralized infrastructure.
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According to Hacken CEO Dyma Budorin, the incident primarily damaged the company’s reputation, with no evidence of compromise beyond the leaked private keys.
Hacken’s private key leak led to a $250K token theft and a 99% HAI price drop, underscoring risks in blockchain bridge upgrades and the firm’s plans for token restructuring.
Private Key Leak During Blockchain Bridge Upgrade Triggers Massive HAI Token Theft
The recent security breach at Hacken was traced back to a compromised private key linked to an account with minting privileges on both Ethereum and BNB Chain. This vulnerability allowed a malicious actor to mint unauthorized HAI tokens and execute a large-scale dump on decentralized exchanges, resulting in a near-total collapse of the token’s market value from $0.015 to $0.000056. Although the token has since partially recovered to $0.00026, the incident exposed critical weaknesses in the firm’s blockchain bridge infrastructure.
Hacken promptly revoked the compromised minter account and regained control of the token contract. Despite these swift actions, the attacker successfully absconded with approximately $250,000 worth of tokens. The firm emphasized that its core infrastructure remains secure and isolated from the compromised token minting process, mitigating further systemic risk.
Complexities of Blockchain Bridge Redesign and Security Implications
Hacken revealed that the private key leak occurred amid ongoing architectural changes to its blockchain bridge—a vital component enabling cross-chain transactions between Ethereum and BNB Chain. The bridge was originally developed under different market and technological conditions, necessitating a comprehensive redesign to enhance security and functionality.
Redesigning and migrating deployed bridge contracts involves intricate legal and technical challenges, which can inadvertently introduce vulnerabilities. To mitigate ongoing risks, Hacken has temporarily suspended bridge transactions on both chains and cautioned users against fraudulent airdrop claims circulating on social media.
Future of HAI Token: Transition to Regulated Security Token
In the aftermath of the hack, Hacken CEO Dyma Budorin announced that tokens acquired on affected networks post-incident will not be supported under the forthcoming tokenomics framework. The company’s strategic vision is to evolve HAI into a regulated security token that represents equity in Hacken, blending traditional financial rights with blockchain-based flexibility.
This transition aims to align HAI holders with Hacken’s equity shareholders, providing a more robust and compliant financial instrument. Legitimate token balances remain fully traceable, and users will be offered a token swap option in the near future, ensuring a smooth migration to the new token structure.
Industry Context: Rising Crypto Exploits Highlight Security Challenges
The Hacken incident is part of a broader trend of escalating crypto security breaches. Blockchain analytics firm PeckShield reported that hackers stole over $1.63 billion in cryptocurrency during the first quarter of 2025 alone. Recent exploits, such as the Meta Pool liquid staking protocol hack resulting in a $27 million minting attack, underscore the persistent vulnerabilities in decentralized finance (DeFi) ecosystems.
These events emphasize the critical need for enhanced security protocols and rigorous infrastructure audits as blockchain projects scale and innovate.
Conclusion
The Hacken private key leak and subsequent token theft serve as a stark reminder of the inherent risks in blockchain infrastructure upgrades, particularly in cross-chain bridges. While Hacken has taken decisive steps to contain the damage and safeguard its core systems, the incident highlights the importance of robust security measures and transparent communication with the community. Moving forward, Hacken’s plan to transform HAI into a regulated security token reflects a strategic pivot towards greater compliance and investor protection, setting a precedent for other projects navigating similar challenges.
