Harmony ONE exploit mints 4 billion tokens, price crashes 34%
Harmony has confirmed that its blockchain was hit by a serious security breach, after an attacker managed to mint 4 billion unauthorized ONE tokens and began dumping them across exchanges. The Harmony ONE exploit triggered a sharp price crash within hours and has reignited concerns about the network’s security record, just years after one of the largest cross-chain bridge hacks in crypto history.
Key takeaways
- Harmony confirmed an exploit involving the unauthorized minting of 4 billion ONE tokens.
- X user Juiceberg first flagged the minting and tracked the attacker’s token movements onchain.
- About 97% of the minted tokens have already reached exchanges and been sold or parked for sale, leaving roughly 115 million ONE still to offload.
- ONE’s price fell 34% in 24 hours to around $0.0008, putting the stolen tokens’ value at roughly $3.2 million.
- Harmony’s Horizon bridge was previously drained of nearly $100 million in 2022, an attack the FBI later tied to North Korea’s Lazarus Group and APT 38.
Unauthorized Minting Exploit on Harmony Blockchain
The breach came to light after an independent observer, not Harmony itself, spotted unusual activity on the network. An X user going by Juiceberg reported that an attacker had minted 4 billion ONE tokens without authorization, exploiting what appeared to be a gap involving empty blocks. Harmony later confirmed the exploit directly, addressing Juiceberg’s post in its own statement on X.
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