Harmony Abandons Its Own Network, Seeks Refuge on Ethereum

Harmony, a seven-year-old blockchain, is proposing to abandon its own network and seek refuge on Ethereum. The plan, outlined in a proposal dated Sept. 6, would end Harmony's independent network, move ONE tokens to Ethereum, and preserve the token through a snapshot and airdrop.

The decision comes after Harmony restored its network through a rollback less than three weeks ago, following an Aug. 11 exploit that allowed attackers to reuse cross-shard receipts and mint tokens without corresponding debits elsewhere.

Initially, Harmony reported 4 billion ONE created in the attack, but its broader reconstruction later put unauthorized issuance at roughly 3.01 trillion ONE across six forged transactions.