Harmony Mainnet Shuts Down Amid State Actor Threats

Harmony is shutting down its mainnet and migrating its native token ONE to Ethereum as an ERC-20 asset. The team cited threats from state actors and AI agents, citing a recent exploit that minted about 4 billion ONE, approximately 26% of the total supply.

The network has been targeted before, with a 2022 breach of its Horizon Bridge draining close to $99.6 million. Harmony will sunset its mainnet on September 10 and reissue ONE tokens automatically to holders, who do not need to claim anything.

However, users are urged to exit multisig safes, liquidity pools, and onchain applications before the migration, as they will not survive the transition. Validators can begin switching off their nodes on Thursday, with a $1.372 million pool available for those who sign an agreement and stay on as governors.