Harmony Hit by Alleged $4 Billion Token Exploit

Harmony, a blockchain protocol, has been hit by an alleged exploit that resulted in nearly 4 billion ONE tokens being created. This represents about 26% of Harmony's total supply.

The attacker is believed to have minted the tokens through empty blocks, with on-chain analyst Juiceberg reporting that around 2.8 billion of these tokens were immediately sent to cryptocurrency exchanges.

According to Harmony's response, they are working with their team and exchanges to freeze affected funds while assessing technical options to contain the incident. They are also drafting a patch and exploring rollback alternatives.