After a hack sent the price of the Humanity (H) token plunging in a day, Humanity Protocol founder Terence Kwok changed his X (formerly Twitter) profile photo to that of "GwakTube," a YouTuber with 2 million subscribers. Overseas coin investors unfamiliar with GwakTube are posting criticism on X using GwakTube's photo.
On the 15th, Humanity was trading in the 280-won range on Bithumb, about 80% below the pre-hack peak in the 1,290-won range. Starting on the 8th, Humanity suffered a hacker attack that caused about $36 million (about 55 billion won) in damage.
As Humanity's price crashed due to the hacking attack, complaints from holders poured onto Kwok's X, and Kwok abruptly switched his X account profile photo to GwakTube. The reason for changing the photo to GwakTube is unknown. After the switch, overseas virtual asset investors, mistaking GwakTube for Kwok, have been posting critical messages on X alongside GwakTube's photo.
On the 9th (local time), on-chain analyst ZachXBT posted on X that the plunge in Humanity raised suspicions of price rigging by an insider at the issuer, prompting overseas investors to send GwakTube's photo to ZachXBT's X account and claim, "This person is the culprit," in a brief commotion.
Kwok, a Hong Kong native, previously drew attention by founding the unicorn (a startup valued at 1 trillion won or more) Tink Labs. He later created Humanity Protocol, saying that in the era of artificial intelligence (AI), he would distinguish deepfakes and bots (automated programs) and protect users' personal information.
Humanity Protocol said the cause of the incident was that a foundation employee's laptop was infected with malware, leading to a mass leak of private keys for the multi-sig (multi-signature) wallet. The foundation said it has halted deposits and withdrawals for all affected services and is cooperating with law enforcement while investigating to recover the stolen funds.