Harmony's ONE sinks over 30% on reports of unauthorized 4B token mint; Horizon Bridge paused

AI Market Summary

Harmony's ONE sold off sharply after reports of an unauthorized mint of roughly 4B tokens, raising acute supply and trust concerns. The team's response—patching the exploit, pausing the Horizon Bridge, and asking exchanges to freeze suspect funds—signals material security risk and potential disruption to on-chain liquidity and cross-chain flows. Near-term positioning is likely dominated by de-risking and counterparty scrutiny.

Impact level

● High

Affected assets

ONE/USDT-39.66%

AI Insight · ONE/USDTAI Insight

▼ Bearish

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Harmony's ONE token slid more than 30% after reports of an unauthorized minting of 4 billion tokens. The team said it has patched the vulnerability, paused the Horizon Bridge, and asked exchanges to freeze funds linked to the suspected activity.

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