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Anyone holding Humanity or Beldex balances at the <a href="https://xpertsstudio.com/crypto-vc-funding-felix-lands-200m-cari-raises-32-5m/” title=”Crypto VC funding: Félix lands $200M, Cari raises $32.5M”>crypto exchange Kraken has to withdraw them by
25 September 2026 at 14:00 UTC. After that, Kraken liquidates whatever remains itself, between
28 September and 2 October. The exchange states in its own notice that proceeds may fall well below recently
seen prices and, in individual cases, may be minimal or zero. Four tickers are affected, although only two
projects are involved: $H and $HUMANITY on one side, $BDX and $BELDEX on the other.
The reason for the duplicate positions goes back months. Both projects were attacked in June 2026, both
responded by rolling out a new token contract, and Kraken credited the replacement to customer accounts
automatically. Anyone who held Humanity or Beldex at Kraken in June has had two lines in their portfolio ever
since, without doing anything to get them. Both lines expire on the same day at the same minute.
What actually happens at Kraken on 25 September 2026 at 14:00 UTC
Kraken has published one support notice for each project, and both carry the same sequence of dates. Trading
and deposits are already permanently disabled for all four tickers; the only remaining function is withdrawal,
meaning a transfer to an address outside the exchange. That withdrawal window closes on 25 September 2026 at
14:00 UTC. From 28 September to 2 October 2026 the liquidation phase then runs, during which Kraken sells any
remaining balances without involvement from the account holder.
For you that means there is exactly one action left that changes anything, and one date on which it ends. A
sale through the exchange order book is no longer an option, because trading stopped long ago. Letting the
deadline pass does not convert your tokens into cash; it hands Kraken the timing and the price.
Why two positions suddenly sit in the account: snapshot, airdrop and a new contract
Both cases follow the same pattern. An attacker exploits a weakness in the project’s bridge infrastructure,
unbacked tokens are created, the project then retires the old contract and publishes a new one. To make sure
nobody is expropriated, the project falls back on a record of balances taken before the attack and distributes
the new token against it at a one-to-one ratio. Kraken handled that distribution for its customers and credited
the new tokens directly.
The order of events matters, and it often gets reversed: the cut-off date lies before the attack,
not after it. For Humanity it is 8 June 2026 at 17:25 UTC, for Beldex 10 June 2026 at 23:36 UTC. Anyone holding
a balance at that moment is eligible. Anyone who bought later is not, under the rules of both projects.
Snapshot, airdrop and forced liquidation: three terms in one sentence each
A snapshot is a record of all balances on the blockchain at a fixed moment in time; it
decides who is entitled to something later. An airdrop is the allocation of a token without
consideration to the addresses in that record, here at a one-to-one ratio. Forced liquidation,
called “liquidation” in Kraken’s notices, refers to the sale of remaining customer balances by the exchange
after a deadline expires, at a price neither you nor the exchange knows in advance. And a
delisting is the permanent removal of an asset from the trading venue, which here has already
taken place.
The Humanity case: what Kraken says about $H and $HUMANITY
According to Kraken’s notice as of 26 June 2026, the old $H has been delisted, trading and deposits are
permanently disabled, and withdrawals remain open. The exchange lists the new token under its own ticker
$HUMANITY, to keep the two distinguishable in the account. The airdrop ran automatically on 1 July 2026 at
14:00 UTC, without any customer action. The new token is also scheduled for delisting at Kraken and supports
withdrawals only.
On the incident itself: according to the crypto.news report of 16 June 2026, an attacker drained roughly 141
million H from the bridge on Ethereum
and minted additional tokens on the BNB Smart Chain. Damage estimates diverge: crypto.news cites 36 million US
dollars, while our own report of 9 June 2026 on the
Humanity Protocol price
crash cited 31 million. The project attributes the incident to stolen credentials and explicitly not to a
flaw in the contracts themselves. Who is behind the attack has not been conclusively established.
The Beldex case: what Kraken says about $BDX and $BELDEX
Kraken’s second notice, as of 9 July 2026, describes the same sequence with different dates. The snapshot is
dated 10 June 2026 at 23:36 UTC, the airdrop of the new $BELDEX ran on 10 July 2026 at 14:00 UTC, and both
tickers support withdrawals only. Kraken refers to the trigger briefly as “an incident” and gives no further
detail.
The project supplies those details itself. In a blog post dated 16 June 2026, the Beldex team writes that on
12 June it identified an unauthorised minting of BDX tokens on the BNB Smart Chain, caused by a problem in its
own bridge infrastructure. The preliminary assessment puts the figure at roughly 38.2 million tokens created
without authorisation. The team dates the first related transactions to shortly after 10 June 2026 around 23:36
UTC, the start of selling to 11 June at around 23:10 UTC, and the bridge was halted in the early hours of 12
June. The native Beldex blockchain, according to the team, was not affected; the incident was confined to the
bridge environment.
Store crypto safely yourself: hardware wallets compared
Zero trading pairs: what we measured on Kraken’s public trading API
That “withdrawals only” really means what it says can be verified without an account. On 5 September 2026 we
queried Kraken’s public trading API. In the asset directory, all four tickers, $H, $HUMANITY, $BDX and $BELDEX,
are still listed individually. In the directory of trading pairs, which held 1,446 entries at that point, there
is not a single pair for any of these four tickers.
That is the measurable evidence for the situation: the balances still exist in the account and can be moved,
but there is no market left on which you could exchange them for euros or dollars at Kraken. We describe a
similar combination of halted trading and a later withdrawal deadline for a different case in our piece on the
trading halt for 21 Kraken
tokens; there, trading is still due to end, while here it stopped long ago.
If you bought after the snapshot: a claims process at Humanity, none at Beldex
This is where the two cases part ways, and for those affected the difference is the most important part of
the whole process. On Beldex, Kraken states explicitly that anyone who acquired $BDX after the snapshot is not
eligible, and that there is no claims portal and no other route. Those holders own a token their own project has
replaced, and they do not receive the replacement.
With Humanity it works differently. In its notice, Kraken points to a project portal through which affected
parties can file a claim themselves, while making clear that the exchange is not involved in that process and
cannot assist with it. The portal itself names three groups it is intended for: balances that sat in liquidity
pools or contracts at the cut-off date and cannot be assigned to a person, balances from certain integrations
with other protocols, and buyers who acquired after the snapshot and still hold the token. According to the
project, identity verification is a prerequisite. All other holders, the portal stresses, need do nothing.
This is a declaration of intent by the project and not a guaranteed payout claim. How large any compensation
would be, when it would flow and by what procedure it is decided has not been published as far as we can tell.
And one practical note that is unfortunately necessary: only ever open such a portaldress from a direct message, a comment or a forwarded screenshot
Why selling at Kraken is not a way out, and what remains instead
In most delisting cases trading continues for a while, and the most convenient route is a sale through the
order book. That route is closed here. Anyone wanting to keep the four tickers has to transfer them to an
address of their own; anyone wanting to turn them into cash needs a different trading venue where the new token
is listed, and still has to withdraw the tokens first. Both cases begin with the same action, and it ends on 25
September.
Whether a second trading venue exists at all, and how deep its order book is, determines what a sale
ultimately yields. With assets of this size, neither can be taken for granted. If you are checking where a token
remains tradable after withdrawal, our
crypto exchange comparison is the
starting point; the asset listings of trading venues change constantly, though, and deserve a fresh check of
your own before any transfer.
Withdrawing step by step: where the tokens belong before 25 September
The procedure is the same in both cases. First, check in your Kraken account which of the four tickers
actually show a balance for you; because of the automatic crediting, there may be two lines where you expect
only one. Next, set up a withdrawal address that you control yourself, on the network Kraken offers for the
token in question. Then carry out the withdrawal, ideally with a small test amount first, and keep the
confirmation.
If you have not set up your own custody for this step, you have to set it up now, and there is less time for
that than it looks: a hardware wallet has to be ordered, delivered and set up before it can supply an address.
Which devices are worth considering and how they differ is covered in our
hardware wallet comparison. A software
wallet will also do for this purpose, as long as you record the recovery words securely.
Where to keep trading after you withdraw: crypto exchanges compared
The ticker deceives: why the new token still carries the same name on chain
For both projects, Kraken points out that the new token may still appear under the old name outside the
exchange. On the blockchain and on some platforms, the new Humanity token is still called $H; the ticker
$HUMANITY is Kraken’s own invention, meant to keep the two lines in the account apart. The same applies to
$BELDEX versus $BDX.
The only reliable way to distinguish the old token from the new one is therefore the contract address. For
Humanity, Kraken gives the old contract as 0xcf5104D094e3864CfCBDa43B82e1cEFD26A016eB and the new
one as 0xE76c5b78f93909d34404E9eb4C1f19e7582a5dE1; for Beldex the old one as
0x6ad12E761b438beA3EA09F6C6266556Bb24C2181 and the new one as
0x9d10a1ec41Fe7878429BB457e31F9b050D38c633. Anyone checking their wallet after withdrawal, or
buying more somewhere, should compare these strings and not rely on the displayed name.
What “minimal or no proceeds” means in practice in a forced liquidation
Both Kraken notices contain the same warning, and it is unusually blunt for an exchange document: liquidation
prices could be significantly below recently seen reference prices and could, in individual cases, result in
minimal or no proceeds, because there is not enough market liquidity at the time of execution. In the same
paragraph, Kraken recommends acting before the deadline rather than relying on the liquidation.
The sentence describes a simple mechanism. When an exchange puts all remaining balances of a barely traded
token onto the market at once on the cut-off date, a large supply meets a thin order book. What comes out of it
depends on the accident of the execution moment. That is why proceeds from a forced liquidation are not a figure
you can plan with.
Tax documentation: why the airdrop and the withdrawal belong in your own file
For a tax return, two events matter here and deserve to be kept apart: the inflow of the new tokenevents, record the date, time, quantity and origin,
along with the account statements from the exchange and the transaction IDs of the withdrawal. A forced
liquidation is also an event that belongs in the documentation, even if you did not trigger it yourself
How these events are to be classified in an individual case depends on circumstances only you and your tax
adviser know. No article can take that classification off your hands, and this one does not attempt to. What you
can do yourself is secure the records while they are still retrievable in the account, because after a delisting
they do not stay available indefinitely.
What is documented in this case and what remains open
Documented are the dates, the tickers, the contract addresses and the eligibility rules: all of it appears
verbatim in the two Kraken support notices linked below. Also documented is the course of events at Beldex, as
far as the project describes it itself, along with the existence and purpose of the claims portal at Humanity,
which we opened ourselves on 5 September 2026. The figure of 1,446 trading pairs without a single entry for the
four tickers is our own measurement from the same day.
Three things remain open. First, the scale of the damage at Humanity, for which 31 to 36 million US dollars
are cited depending on the source. Second, the size, timing and procedure of any compensation via the portal; we
have no publication on that. Third, the question of who is responsible for the attacks: attributions are
circulating that we cannot verify, and for that reason we do not name them here. Holders do not need these
answers for their decision anyway, because the deadline stands regardless.
Kraken withdrawal deadline on 25 September: what to take away
- Look in your account today, not shortly before the deadline. Check whether you have one
position or two, and add both together. If you are going through your portfolio anyway: which exchange suits the
rest of your holdings can be checked against our
crypto exchange comparison. - Set up the destination address before you start the withdrawal. Without a wallet of your
own there is no target for the transfer, and delivery times for a device are part of the deadline. The selection
is in the hardware wallet comparison,
including the question of when a software wallet is enough. - Withdraw and document the process instead of waiting for the liquidation. Kraken itself
advises this and justifies it with potentially minimal proceeds. Record the date, quantity and transaction ID of
the airdrop and the withdrawal; which tools handle that for you is covered in our
comparison of tax tools and portfolio
trackers.
The two authoritative notices in full:
Kraken’s update on
Humanity (H) and
Kraken’s
notice on Beldex (BDX).
(As of September 5, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)
Transparency note: This article was produced with the assistance of artificial intelligence and reviewed by our editorial team before publication. All figures and claims were checked against the primaryI
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