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Harmony Hit by Exploit; About 40B ONE Tokens Illegally Minted

AI Market Summary
Harmony disclosed an exploit that allegedly enabled illicit minting of tens of billions of ONE via empty blocks, with large amounts quickly moved to exchanges amid a sharp selloff. A mismatch between onchain supply and the protocol's totalSupply endpoint undermines data integrity and heightens uncertainty over circulating supply. Coordination with exchanges to freeze funds and potential patches/rollback signal elevated operational and counterparty risk for ONE.
Impact level
● High
Affected assets
ONE/USDT-32.87%
AI Insight · ONE/USDTAI Insight
▼ Bearish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
According to ME News, Harmony said on Aug. 12 (UTC+8) that it amplified a post by X user Juiceberg citing on-chain data pointing to an exploit of a vulnerability in the Harmony protocol. The attacker allegedly minted about 40 billion ONE tokens, roughly 26% of total supply, by leveraging empty blocks. The post claimed around 28 billion ONE were quickly moved to exchanges as the token price fell sharply. It also said Harmony's totalSupply endpoint did not show the newly minted tokens, creating a gap between the on-chain supply and the figures available to the public. Harmony said it is working with its team and relevant exchanges to block and freeze the funds, and is preparing patches and rollback measures. (Source: Foresight News)
Selected
ONE
ONE-32.52%
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