Harmony Hit by Suspected Unauthorized ONE Minting; Exchanges Asked to Freeze Funds
AI Market Summary
Harmony reported a suspected unauthorized mint of roughly 4 billion ONE (about 26% of total supply), with around 2.8 billion allegedly moved to exchanges as price fell. A supply integrity breach undermines token economics, damages market confidence, and raises near-term liquidity and counterparty risk across venues. Coordination with exchanges to freeze funds may limit distribution but can also heighten uncertainty around transfers and settlement.
Impact level
● High
Affected assets
ONE/USDT-32.87%
AI Insight · ONE/USDTAI Insight
▼ Bearish
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Harmony said it is coordinating with cryptocurrency exchanges to freeze funds after a suspected exploit involving unauthorized minting of its native token, ONE. On-chain analyst Juiceberg reported that roughly 4 billion ONE was minted without authorization, equivalent to about 26% of the token's total supply. The report added that around 2.8 billion ONE was subsequently transferred to exchanges as the token's price slid.
