Harmony Shuts Down Layer 1 Blockchain Amid Severe Attacks

Harmony's Layer 1 blockchain is set to shut down due to severe attacks, with validators potentially stopping node operations by September 10, 2026. This decision marks a strategic pivot for the team as they shift focus towards a new AI video project on Ethereum.

The plan involves migrating ONE tokens and airdropping new ERC-20 tokens on Ethereum, providing incentives for validators to become governors in the new project. The AI-driven video remixing platform aims to generate revenue through operator income.

This move follows a major exploit in August, which has prompted Harmony to reassess its priorities. By rebuilding on Ethereum, the team hopes to tap into the larger ecosystem and leverage its resources for growth.