Huma Co-Founder Discloses Hack of Early Liquidity Provider Wallet; Approximately 12 Million HUMA Tokens Dumped

According to TechFlow, on November 12, Huma co-founder Richard Liu posted on X in response to recent HUMA price volatility, stating that the team was surprised the decline exceeded expectations and that an investigation had been launched.

The investigation found that on October 22, the wallet of an early liquidity provider (LP) was hacked, and approximately 12 million HUMA tokens obtained through the airdrop were subsequently dumped. Meanwhile, from November 2 to 7, open interest across all markets for HUMA contracts increased from approximately 620 million to 1.1 billion HUMA, perpetual futures trading volume reached 7 to 10 times that of spot, and funding rates have remained negative since November 4.

Richard Liu emphasized that the Huma Foundation and affiliated entities have not participated in any HUMA trading over the past three months and have no plans to sell tokens during the upcoming token unlock. There is currently no evidence of misconduct by partner market makers, and the team plans to hold an AMA around November 19-20 to address community questions.

Source: TechFlow