Lewis Killeen's two late goals were not enough to stop the Manager of the Month awards curse striking again.
Halifax boss Chris Wilder collected the January gong before kick-off after leading the Shaymen to a run of eight straight wins in all competitions and then watched in horror as his promotion chasers were ripped apart by mid-table Barnet.
Killeen scored what looked to be a mere consolation goal on 71 minutes when he powered in a low shot past Barnet keeper Danny Naisbitt.
But in a frantic fightback, the home side could have come from behind to snatch a point.
Killeen, on loan from Sheffield United, got his second two minutes from time from a Simon Parke flick-on just after midfielder Craig Midgley missed a penalty.
The Town workhorse struck the base of the post after sending Naisbitt the wrong way after John Doolan handled Parke's goalbound shot.
And deep into injury time Halifax defender Kevin Sandwith smashed a rising 35-yard drive off the crossbar.
And again in injury time substitute Andy Farrell nearly won another penalty for the home side when he was dragged down by Barnet's Neil Midgley, but Blackburn referee Mo Matadar waved away the appeals.
Meanwhile, there was still time for Junior Agogo to hit the post from 20 yards at the other end after Town defender Mark Monington's slip.
Earlier, the visitors took the lead when Danny Brown's shot was deflected by Town midfielder Steve Bushell past veteran keeper Lee Butler on 41 minutes.
And then a three-goal blast in nine minutes early in the second half seemed to have wrapped up a comfortable win for Peter Shreeves' side.
Agogo headed in a Brown cross on 47 minutes, defender Greg Heald made it 3-0 five minutes later with a header from a Mark Gower corner and on 56 minutes Agogo got his second when he struck a rising half-volley with the outside of his right boot in off the post.
But despite being 4-0 down Halifax never gave up and made an impressive fightback, which with better luck might have seen them take a remarkable point.