Harmony Hit Hard by 4 Billion ONE Token Minting Exploit

TL;DR

• Harmony confirmed an exploit linked to roughly 4 billion unauthorized ONE tokens, equal to about 26% of the network’s pre-incident supply.
• Around 2.8 billion ONE reportedly reached exchanges quickly, while Harmony paused its bridge, deployed an emergency update and explored rollback options to contain further damage.
• ONE fell roughly 34% in one snapshot as the network faced another major security incident, with the exploit’s technical root cause still publicly undisclosed.

Harmony’s ONE token plunged after the layer-1 network confirmed an exploit connected to the unauthorized creation of roughly 4 billion tokens, an amount equal to about 26% of the pre-incident supply. The reported minting used empty blocks, while the network’s totalSupply endpoint did not immediately reflect the increase. The most unsettling detail is that billions of newly created tokens reached exchanges before Harmony could contain the damage. The project said it was working with trading platforms to freeze funds, preparing an emergency patch and evaluating whether a blockchain rollback could help address the incident.

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