Harmony probes alleged unauthorized minting of 40 billion ONE tokens
AI Market Summary
Harmony reported an incident involving unauthorized minting of a large quantity of ONE tokens, with billions reportedly moved to exchanges and contributing to immediate sell pressure. The event raises acute concerns about protocol security, supply integrity, and potential remediation actions (including rollback evaluation), which can impair liquidity and confidence until the investigation clarifies scope, exchange freezes, and technical fixes.
Impact level
● High
Affected assets
ONE/USDT-39.19%
AI Insight · ONE/USDTAI Insight
▼ Bearish
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Harmony Protocol said it is working with relevant exchanges to try to block and freeze funds tied to a suspected exploit, while it develops a remediation plan and reviews potential rollback options.
Earlier on-chain analysis indicated Harmony may have been attacked, with an exploiter allegedly using a blank-block vulnerability to mint about 40 billion ONE tokens without authorization—roughly 26% of the current supply. Around 2.8 billion ONE were later moved to exchanges, adding selling pressure and pushing ONE's price lower.
Analysts said the attacker may have taken advantage of a flaw in the supply-verification mechanism, delaying updates to the totalSupply interface so the increase in circulating supply was not immediately reflected and the inflationary effect was masked.
Harmony said it will share further updates as more information becomes available. The incident remains under investigation.
