Harmony Protocol investigates unauthorized minting of 4 billion ONE tokens

Harmony Protocol unauthorized minting blockchain exploit ONE token cryptocurrency security

The Harmony Protocol has experienced a major security exploit involving the unauthorized minting of approximately 4 billion ONE tokens. On-chain analyst Juiceberg reported that the tokens were created through empty network blocks, representing roughly 26% of the total circulating supply.

Following the exploit, the price of ONE experienced a significant crash, dropping between 30% and 50% as approximately 2.8 billion of the newly minted tokens were rapidly transferred to cryptocurrency exchanges. This sudden inflation of the circulating supply caused immediate asset dilution for existing holders.

The Harmony team is currently working with exchanges to identify and freeze funds linked to the incident. Developers are also preparing a security patch to address the vulnerability and are evaluating whether a blockchain rollback is necessary to restore the network to its pre-exploit state. The team has not yet confirmed the exact number of tokens minted or the specific technical root cause of the vulnerability.

Entities

Harmony · Harmony Protocol · Juiceberg · ONE

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 5 SOURCES] Roughly 2.8 billion of the unauthorized tokens were transferred to cryptocurrency exchanges. koinbulteni.com · bitcoinethereumnews.com · crypto.news · coinpaper.com · www.cryptopolitan.com
[● 6 SOURCES] The unauthorized minting of 4 billion tokens represents approximately 26% of the total ONE supply. koinbulteni.com · bitcoinethereumnews.com · flagthis.com · coinpaper.com · www.blocktempo.com · +1 more
[● 5 SOURCES] The Harmony team is evaluating the possibility of a blockchain rollback to restore the network to its pre-exploit state. koinbulteni.com · crypto.news · coinpaper.com · www.blocktempo.com · www.cryptopolitan.com
[● 5 SOURCES] Harmony is working with exchanges to freeze funds and is developing a security patch. koinbulteni.com · crypto.news · coinpaper.com · www.blocktempo.com · www.cryptopolitan.com
[● 7 SOURCES] The price of the ONE token dropped by as much as 40% following the incident. flagthis.com · bitcoinethereumnews.com · crypto.news · coinpaper.com · abmedia.io · +2 more
[● 5 SOURCES] Approximately 4 billion ONE tokens were minted without authorization through empty network blocks. koinbulteni.com · bitcoinethereumnews.com · crypto.news · coinpaper.com · www.cryptopolitan.com