Harmony Rolls Back Blockchain After $4 Billion Token Forgery

Harmony Protocol has announced plans to roll back its blockchain to August 11th, erasing nearly a week of activity and deleting billions of illegally minted ONE tokens. The decision comes after an attacker forged a fresh supply of tokens, swelling the total supply by about 26%.

The rollback will reset the chain to its state before the attack, which occurred on August 12th. Validators are already preparing for the restart, and the network remains paused until the work is completed.

According to Harmony, the team weighed several options for mitigating the damage, including burning fake tokens wallet by wallet or creating a blacklist. However, these approaches risked harming innocent holders, so the decision was made to reset the chain to its pre-attack state.