- Haven Protocol suffered a mint exploit, with over 500 million XHV tokens minted illegally,
- The hack induced the value of the XHV token to drop by over 60%.
- Hackers exploited a vulnerability within the proof-of-scope validation code, launched in the course of the rebase of Haven 3.2 to Monero.
Haven Protocol, a blockchain challenge identified for its mint-and-burn mechanism, suffered a mint exploit, inflicting its token value to drop dramatically.
The exploit allowed a hacker to create numerous XHV tokens, pushing the availability to unmanageable ranges. Following the hack, the value of Haven token (XHV) fell by over 60%, from $0.0003594 to $0.0001341.
What occurred to the Haven Protocol?
The Haven Protocol workforce disclosed the exploit through their social media account, revealing that over 500 million XHV tokens had been illegally created.
⚠️ Haven Mint Achievement ⚠️
Sadly, we had been hit with an exploit.
This was recognized when querying the quantity of XHV on exchanges.
The quantity reported to us exceeds 500 million XHVs.$XHV
🧵👇🏼– Haven Protocol (@HavenXHV) December 10, 2024
This discrepancy was detected when querying the alternate provide, contrasting sharply with the audited provide of 263 million tokens. The builders attributed the breach to a vulnerability within the “vary proof validation” code, launched in the course of the rebase of Haven 3.2 to Monero.
This flaw allowed the creation of XHV tokens with out detection, as minting came about after auditing processes.
Notably, extra tokens weren’t accounted for within the audited provide figures, revealing a crucial hole within the protocol's safety measures.
The exploit had a major influence in the marketplace place of belief within the protocol.
In response, Haven Protocol urged its group to keep away from buying XHV on exchanges, citing ongoing efforts to evaluate the state of affairs. The workforce acknowledged the severity of the breach, expressing remorse and promising additional updates as discussions inside its Haven Operations Committee (HOC) progress.
