Harmony Investigates Potential Exploit Amid Record ONE Token Mint

Harmony is investigating a potential exploit that may have led to nearly 4 billion ONE tokens being minted, equivalent to about 26% of the token's supply. The layer-1 blockchain said it was working with exchanges to freeze funds and preparing a patch, while also evaluating rollback options.

The suspected exploitation was brought to light by an X account called 'Juiceberg,' which claimed that empty blocks were used to mint the unauthorized tokens. According to Juiceberg, approximately 2.8 billion tokens were quickly sent to exchanges as ONE's price fell.

At the time of writing, CoinGecko showed ONE had fallen 33.9% over the past 24 hours. This incident follows Harmony's June 2022 Horizon Bridge hack, which resulted in the theft of about $100 million in cryptocurrency and was attributed to North Korea's Lazarus Group.