The on-chain investigator now says Humanity’s disclosed private-key leak appears genuine and the team likely did not steal the $31 million, while raising separate questions about market-making deals and OTC activity before June 25 unlocks.
ZachXBT updated his assessment of Humanity’s $31 million security incident on June 9, saying further tracing suggests the team likely did not steal the funds and that the disclosed private-key leak was genuine. That marks a shift from his earlier view that it was unclear whether the episode was a security attack or malicious selling by the project team. He said the leak and an earlier abnormal H token price pump were likely separate events, but questioned whether the team used suspicious market-making agreements and large OTC trades to raise H ahead of investor and early-contributor unlocks around June 25. The remarks narrow the focus on the immediate cause of the loss while keeping scrutiny on trading activity and token distribution dynamics around the project.