Harmony Probes Suspected Exploit After Reported 4 Billion ONE Unauthorized Mint

Harmony is investigating a suspected exploit and preparing a network patch after an on-chain analyst reported that approximately 4 billion ONE tokens had been minted without authorization.

Juiceberg, the on-chain analyst, said the amount represented about 26% of ONE’s supply and that approximately 2.8 billion tokens were sent to exchanges. The reported minting occurred through empty blocks, according to the analyst.

Harmony has contacted exchanges to stop and freeze funds and is evaluating rollback options. The blockchain project has not confirmed the amount involved or disclosed the root cause.

ONE was trading at $0.0008509 after dropping 31% following reports of the incident.

The latest investigation comes four years after Harmony’s Horizon Bridge was exploited for roughly $100 million in 2022. Harmony launched its Layer 1 network in 2019.

Source: Harmony Protocol