Harmony Hit by Massive Token Mint After Suspected Blockchain Exploit

Harmony's blockchain is facing a major security issue after reports emerged of an attacker exploiting the network to mint nearly 4 billion ONE tokens, equivalent to about 26% of the token's supply.

The attack allegedly occurred on Tuesday, prompting Harmony to work with exchanges to freeze funds and prepare a patch. The layer-1 blockchain is also considering rolling back its blockchain to mitigate the damage.

Harmony has not confirmed the cause of the attack or the amount sent to exchanges, but it's clear that the incident has significant implications for the token's supply and price.