Harmony Protocol to Roll Back Network After Illegal Minting of 23.85 Billion ONE Tokens
AI Market Summary
Harmony will execute a full network rollback after an exploit in cross-shard validation and quorum checks enabled large-scale illegal ONE minting, triggering a >30% price drawdown. Emergency patches, bridge suspension, and exchange freeze requests aim to contain further leakage, but chain reorg risk and discarded transactions undermine settlement finality and user confidence. Near-term activity may be disrupted as validators regenerate blocks from the rollback point.
Impact level
● High
Affected assets
ONE/USDT-3.59%
AI Insight · ONE/USDTAI Insight
▼ Bearish
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Harmony Protocol said it will carry out a full network rollback following a security incident. Shard 0 and Shard 1 will be reverted to block heights 92,730,034 and 94,978,278, restoring the chain state to 23:25:37 UTC on Aug. 11.
According to the project, the attacker exploited weaknesses in cross-shard receipt validation and quorum verification to mint ONE. One wallet launched 534 fraudulent transfers of 50 billion ONE each in a 106-second window. Of those, 477 transactions went through, leading to the illegal minting and movement of 2.385 trillion ONE and triggering a drop of more than 30% in ONE's price.
Harmony said it has deployed an emergency fix, Mainnet v2026.1.1, suspended cross-chain bridge services, and asked exchanges to freeze the related addresses. The team added that more than 99.9% of the forged tokens have been traced.
Validators will rebuild blocks from the designated rollback point. The rollback will permanently discard 141,628 blocks, including 109,126 standard transactions and 315 staking transactions.
