Harmony Protocol Hit by 4 Billion Token Hack

A major exploit has hit the Harmony Protocol, resulting in the unauthorized minting of approximately 4 billion ONE tokens. This represents around 26% of the token's total supply, according to on-chain analyst Juiceberg.

The attack appears to have involved empty blocks, which allowed for the creation of new tokens without authorization. The newly minted tokens were then moved through the network and into cryptocurrency exchanges.

Hundreds of millions of ONE tokens remained on-chain, while a significant portion was transferred to exchanges. Harmony is working with its team and exchanges to stop and freeze funds linked to the exploit.