On June 20, the Hacken Token (HAI) crashed dramatically, nearly 98% in minutes, after blockchain security firm Peckshield flagged a suspected hack, triggering panic selling.
Attackers may have drained liquidity or manipulated contracts, though the exact exploit method remains under investigation. The team has yet to issue an official statement as HAI trades at near-zero levels on exchanges, according to CoinMarketCap.
Hacken Hit by Cyberattack: Guard Robbed?
Hacken is a cybersecurity and auditing platform focused on making blockchain projects safer. It provides services like smart contract audits, bug bounty programs, and security tools to protect crypto projects from hacks and scams.
The platform is known for checking the code of DeFi apps, exchanges, and NFTs to find vulnerabilities and fixing them before attackers do.
Its native token, HAI, is used to pay for these security services, reward white-hat hackers who find bugs, and give holders voting rights in platform decisions. HAI originally launched on Ethereum but later expanded to VeChain’s network.
While Hacken has built a reputation as a trusted auditor for major crypto projects, the attack on its token might shake the trust of its users and customers.
In April, Hacken CEO Dyma Budorin criticized the industry’s reliance on superficial security measures like bug bounties and penetration tests, calling them insufficient against sophisticated attacks.
“Most of the projects think, ‘Okay, we did pentests. That’s enough. Maybe bug bounty. That’s enough.’ It’s not enough,” Budorin stated. He urged crypto firms to adopt a multi-layered security strategy, similar to traditional finance, including supply-chain audits, operational security protocols, and blockchain-specific risk assessments.
In May 2025, the crypto industry suffered approximately $244.1 million in losses across 20 major hacks, which is a 39.29% decline compared to April. The largest breach targeted Cetus Protocol, with $220 million stolen, though $157 million (71%) was frozen thanks to quick action by Cetus and the SUI network.
Other significant exploits included the Cork Protocol ($12M), a suspected North Korean-linked attack ($5.2M), Token MBU ($2.2M), and MapleStory Universe ($1.2M).
While the month saw reduced losses overall, the partial recovery of stolen funds shows both persistent security vulnerabilities and improving crisis response measures in the crypto space.
