Harmony Hacked: 4B ONE Tokens Minted in Massive Security Breach

A major security breach has struck Harmony, a Layer 1 blockchain, as an attacker exploited the protocol and minted at least 4 billion of its native ONE token. This represents about 26% of Harmony's total supply.

Data from CoinGecko shows that the ONE token plummeted to a new all-time low of $0.0005735 following the incident, dropping suddenly from around $0.00117. The token has since recovered some of its value but remains significantly down.

Hackers moved approximately 2.8 billion of the minted tokens into exchanges, with about 115 million ONE tokens remaining on-chain and ready to be sold. Harmony has asked all exchanges to block and freeze any funds linked to four wallet addresses associated with the theft.