Harmony Investigates $1.5 Billion Token Mint, Exchanges Freeze Funds
Harmony has launched an investigation into a suspected Layer 1 exploit after on-chain researchers reported that approximately 4 billion ONE tokens were created without authorization. The project is working with exchanges to stop and freeze funds while evaluating rollback options.
In a later update, Harmony identified four wallet addresses linked to the incident and asked exchanges to block funds traced back to them. It also paused its bridge and instructed validators to install an emergency software update that prevents any further minting.
The scale of the reported mint is significant, with about 27% of the previously reported circulating supply potentially affected. Market trackers show approximately 15 billion ONE in circulation, and if the 4 billion tokens were added, it would equal roughly 27% of the total.