H is now around 0.07u. This coin has gone through a lot—let’s talk about it.

We analyzed it before. Back then, it was because of the June 8 hack: a developer’s computer got infected with a virus, and all 7 private keys were leaked. $36 million was stolen, accounting for more than 40% of the total amount stolen from the crypto market in June.

Before the incident, it had reached a high near 0.853u. After the hack, it was dumped straight down to around 0.0008u—almost zero.

Later, the team switched to a new contract, swapping the old tokens 1:1 for the new ones. The price has been slowly climbing back up from the bottom, and now it’s around 0.07u.

But there’s one thing that’s worth warning about. In a recent interview, the founder admitted that the stolen funds are basically unrecoverable. They also announced they’re abandoning the original direction of blockchain identity verification and pivoting to enterprise AI products.

The direction changes just like that. People who bought this coin originally did so because they believed in the identity verification track. Now that the track has changed, it effectively overturns the entire original logic.

And on July 25, there’s another batch of tokens set to unlock—close to 270 million tokens will enter the market. Right now, only about 30% is circulating; the remaining 70% is still locked up.

At 0.07u, short-term trading may involve people betting on a successful pivot story, but this coin’s trust has already been damaged, #H $H