ZachXBT Refuses to Help Harmony After New $100M Exploit

ZachXBT, a well-known on-chain sleuth, has refused to help Harmony track down stolen funds after the latest exploit, citing a $100 million grievance from 2022.

The incident occurred when an attacker minted approximately 4 billion ONE tokens without authorization, using empty blocks to push the new supply into existence. This represents around 26% of the token's entire prior circulating supply.

Harmomy has since confirmed it had been exploited and is working with its team and relevant exchanges to stop and freeze the affected funds. The project has also paused its bridge with LayerZero as a precaution and asked all network validators to apply an emergency patch to prevent further unauthorized issuance.

ZachXBT's refusal to help Harmony marks the third major security failure for the project in roughly four years, following the original $100 million Horizon Bridge theft in 2022 and a bug in the network's staking system that caused around 146.3 million ONE to be improperly created in December 2023.