Harmony Protocol to Roll Back Network After Illegal Minting of 23.85 Billion ONE
AI Market Summary
Harmony will execute a full network rollback after an exploit in cross-shard receipt validation and quorum checks enabled illegal minting of ~2.385T ONE, triggering a reported >30% price drop. Emergency patching, bridge suspension, and requests for exchange freezes signal acute operational and counterparty risk. The rollback discards a large block/transaction set, raising finality and trust concerns and likely increasing near-term volatility and liquidity fragmentation for ONE.
Impact level
● High
Affected assets
ONE/USDT-3.02%
AI Insight · ONE/USDTAI Insight
▼ Bearish
Trade now
⚠️ 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.
ChainCatcher reports that Harmony Protocol will carry out a full network rollback after uncovering a security flaw. Shard 0 will revert to block 92,730,034 and Shard 1 to block 94,978,278, restoring the network state as of 23:25:37 UTC on Aug. 11.
According to the project, the attacker abused weaknesses in cross-shard receipt validation and quorum verification to mint ONE tokens. One wallet executed 534 fraudulent transfers of 5 billion ONE each within 106 seconds, with 477 transactions going through. In total, 2.385 trillion ONE were minted and moved, sending ONE down more than 30%.
Harmony said it has rolled out an emergency patch, Mainnet v2026.1.1, suspended cross-chain bridge services, and asked exchanges to freeze related addresses. The team added that more than 99.9% of the forged tokens have been traced.
Validators will resume block production from the designated rollback height. Harmony noted that 141,628 blocks will be permanently discarded in the process, including 109,126 regular transactions and 315 staking transactions.
