- Haven Protocol suffered a mint exploit, with over 500 million XHV tokens minted illicitly,
- The hack has sent the tag of the XHV token down by over 60%.
- Hacker(s) exploited a vulnerability within the range proof validation code, presented in every single place in the Haven 3.2 rebase to Monero.
Haven Protocol, a blockchain mission known for its mint-and-burn mechanism, has suffered a mint exploit, leading to a dramatic descend in its token tag.
The exploit allowed a hacker to mint a immense replace of XHV tokens, driving the provision to unmanageable ranges. Following the hack, the tag of the Haven token (XHV) nosedived by over 60%, falling from $0.0003594 to $0.0001341.
What came about to the Haven Protocol?
The Haven Protocol crew disclosed the exploit by technique of their social media yarn, revealing that over 500 million XHV tokens were illicitly created.
⚠️ Haven Mint Exploit ⚠️
Unfortunately we’ve been hit by an exploit.
This used to be identified when querying the quantity of XHV on exchanges.
The number reported to us is in a ways extra than 500 million XHV.$XHV
🧵👇🏼— Haven Protocol (@HavenXHV) December 10, 2024
This discrepancy used to be detected all over an change supply quiz, contrasting sharply with the audited supply of 263 million tokens. Developers attributed the breach to a vulnerability within the “range proof validation” code, presented in every single place in the Haven 3.2 rebase to Monero.
This flaw enabled the creation of XHV tokens with out detection, as the minting befell after auditing processes.
Particularly, the excess tokens were not accounted for within the audited supply figures, exposing a basic hole within the protocol’s security features.
The exploit has greatly impacted the market standing of XHV, a mission that once noticed its token peak at $28.99 in April 2021. The incident has compounded its decline, with the fresh tag reflecting the erosion of belief within the protocol.
In response, Haven Protocol entreated its neighborhood to defend a ways from purchasing XHV on exchanges, citing ongoing efforts to evaluate the direct. The crew acknowledged the gravity of the breach, expressing remorse and promising additional updates as discussions within their Haven Operations Committee (HOC) progress.
