Humanity Protocol to pivot to AI after $36M hack, founder says

Terence Kwok, founder of Humanity Protocol (H), told The Block that the project is pivoting to focus on enterprise AI products, shifting away from its original identity verification and blockchain strategy following a hack of approximately $36 million. Kwok attributed the breach to malware on a developer's laptop rather than a smart contract vulnerability. He acknowledged that recovering the stolen funds is unlikely, stating that the team plans to focus on rebuilding the project instead. Kwok also denied allegations of a 'rug pull,' asserting that the project did not intentionally dump its tokens.