- Haven Protocol fell sufferer to a mint exploit that resulted in over 500 million XHV tokens being minted illegally.
- This hack precipitated the value of the XHV token to drop by over 60%.
- Hackers exploited a vulnerability within the vary proof verification code launched throughout Haven 3.2's rebase to Monero.
Haven Protocol, a blockchain venture identified for its mint-and-burn mechanism, fell sufferer to a mint exploit that led to a dramatic collapse in token costs.
This exploit allowed hackers to mint big numbers of XHV tokens, inflicting the provision to achieve unmanageable ranges. After the hack, the value of Haven token (XHV) plummeted by greater than 60%, dropping from $0.0003594 to $0.0001341.
What occurred to Heaven Protocol?
The Haven Protocol group printed the exploit by way of their social media accounts, revealing that over 500 million XHV tokens had been fraudulently created.
⚠️Heaven Mint Exploit⚠️
Sadly, I fell sufferer to an exploit.
This was recognized after we queried the quantity of XHV on the alternate.
The quantity reported to us is over 500 million XHV.$XHV
🧵👇🏼— Heaven Protocol (@HavenXHV) December 10, 2024
This discrepancy was detected in the course of the alternate's provide inquiry and is in sharp distinction to the audited provide of 263 million tokens. Builders attributed the breach to a vulnerability within the “proof of vary validation” code launched throughout Haven 3.2's rebase to Monero.
This flaw may have allowed XHV tokens to be created undetected as a result of audit course of adopted by minting.
Particularly, the audited provide didn’t keep in mind surplus tokens, revealing a major hole within the protocol's safety measures.
This exploit had a major affect available on the market place of XHV, a venture that when hit a token excessive of $28.99 in April 2021. This incident has additional exacerbated that decline, and the present worth displays declining confidence within the protocol.
In response, Haven Protocol requested the neighborhood to not buy XHV on the alternate, citing ongoing efforts to evaluate the scenario. The group acknowledged the seriousness of the breach, expressed remorse, and promised to offer additional updates as discussions inside the Haven Operations Committee (HOC) progress.
