Harmony ONE price crashes 30% after exploit of 4 billion tokens

Harmony (ONE) has been hit by a serious exploit in which attackers unlawfully mint as many as 4 billion ONE tokens. That is equivalent to around 26% of the total supply. The price of ONE plunges immediately by approximately 30% to $0.000872.

ONE is available at OKX and Bybit.

In short:

• Attackers mint 4 billion ONE tokens, accounting for 26% of the total supply.
• Already 2.8 billion ONE has been sent to exchanges and partly sold, leaving only 115 million ONE on the blockchain.
• Harmony is working with exchanges to freeze the funds and is preparing a patch and possible chain rollback.

Massive unauthorised minting hits Harmony

The attack on the Harmony network is striking in its scale. The attacker manages to mint 4 billion ONE tokens through an exploit, bypassing the normal operation of the protocol. This is no small amount: it represents about a quarter of the total supply that should normally be in circulation.

Of those 4 billion tokens, 2.8 billion ONE has already been sent to exchanges, according to analyst Juiceberg. Only 115 million ONE remains on the blockchain itself. The rest is already sitting in exchange wallets, and the risk of further selling therefore hangs over the market like a dark cloud.

Harmony confirms attack and is working on a solution

The Harmony team confirms the exploit and says it is actively working with exchanges to freeze the affected funds. Work is also underway on a technical patch to close the vulnerability. In addition, the team is considering a possible blockchain rollback, in which transactions would be reversed to limit the damage.

The ONE price reacts immediately and sharply to the news. As the chart shows, the price falls from around $0.001300 to a low of $0.000872, a decline of 25.85% in a short space of time. Whether the cooperation with exchanges and a possible rollback can turn the tide remains unclear at this point. The team promises to share updates as soon as more information becomes available.