Harmony Hit by Suspected Exploit as 4B ONE Tokens Allegedly Minted; Price Briefly Slides Over 30%

Harmony is facing a suspected onchain security incident after an apparent unauthorized mint of roughly 4 billion ONE tokens, according to onchain analyst Juiceberg cited by CoinMarketCap. The amount would represent about 26% of ONE's total supply. Following the report, ONE sold off sharply, at one point falling more than 30%. Onchain data suggests the event may be tied to abnormal minting linked to "empty blocks." The newly minted tokens were then moved out of the implicated address. Data indicates about 2.8 billion ONE was sent to cryptocurrency exchanges, while roughly 115 million ONE remained in onchain addresses. The sudden increase in circulating supply amplified selling pressure, and the flow of funds to trading venues weighed on the token price. Harmony said it has asked exchanges to help intercept and freeze assets connected to the incident. The team reported identifying four clusters of wallet addresses and requested trading platforms block transfers associated with them, involving both Harmony ONE network addresses and related Ethereum addresses. The project has not disclosed the specific vulnerability behind the suspected unauthorized mint, nor confirmed the final amount involved. Harmony said it is developing a patch and assessing whether to carry out a rollback that could reverse or restore impacted transactions, but has not decided whether it will proceed. Market participants are watching for further token movements, as additional unauthorized ONE entering circulation could intensify selling pressure.