Korbit to Cover Harmony Token Shortfall After Security Incident

Korbit, a South Korean cryptocurrency exchange, has identified a discrepancy in its Harmony (ONE) token holdings after a security incident on the Harmony network.

The exchange holds approximately 4.49 million ONE tokens, but customer deposits total around 4.71 million ONE tokens, resulting in a shortfall of roughly 210,000 tokens.

Korbit plans to cover this shortfall using its own funds, ensuring that customer balances remain fully backed.

The incident highlights the importance of exchange transparency and robust asset verification, as Korbit is the only South Korean won-based platform listing Harmony.