Key Takeaways:
- A purported exploit created nearly 4 billionONE, or nearly 26% of supply.
- About 2.8 billion ONEs are said to have been transferred to exchanges.
- Harmony is drafting a patch, as well as looking at rollback alternatives.
Harmony is responding to a suspected exploit that allegedly triggered the unauthorized creation of billions of ONE tokens. The team says it is coordinating with exchanges to freeze affected funds while assessing technical options to contain the incident.
We are working with our team and appropriate exchanges to stop and freeze the funds.
We are working on a patch and rollback options.
Will update when we have new information. https://t.co/XB0nCwTAyN
— Harmony ???? (@harmonyprotocol) August 12, 2026
Nearly 4B ONE Allegedly Created
On-chain analyst Juiceberg reported that an attacker minted roughly 4 billion ONE tokens through empty blocks, representing about 26% of Harmony’s total supply.
Harmony is not an independent endorsement or commenter on the stated mint count, nor does it have a public account of how the suspected exploit came about. But it has reacted, suggesting that the team suspects the situation is a live security incident.
The announced rise in supply is a major one in particular because it could result in a severe dilution for existing ONE holders if the newly created tokens are sold in the market.
Additionally, Juiceberg claimed the total supply endpoint on the network did not immediately account for the purported inflation, possibly obscuring the supply changes in regular data queries.
Read More: $18M Ostium Vault Exploit Drains Arbitrum Protocol
2.8B ONE Reportedly Reached Exchanges
Based on this on-chain analysis, it is believed that 2.8 billion of the purportedly minted tokens were immediately sent to cryptocurrency exchanges.
Math guy Juiceberg estimated it’s about 115 million ONEs that the attacker still has on-chain. This would mark just about 2.9% of the nearly 4 billion tokens said to be produced.
The rest of the tokens were either sold or moved to exchange deposit wallets and could be sold as well.
ONE Faces Heavy Selling Pressure
With the alleged exploit being made, the market price of one was immediately put under pressure. The tokens could be sent en masse, causing a massive increase in the amount of potential sell-side liquidity, which gives a distinct risk to holders.
Unconfirmed by an independent party of Harmony, however, the amount that’s sold is not clear.
Harmony Prepares Patch and Considers Rollback
Harmony stated that it is in the process of communicating with its staff and exchanges to halt and freeze the funds relating to the incident.
The blockchain project also has a patch under development, with options for rocket-back. If the rollback is allowed, then Harmony can reverse or remove transactions related to the suspected exploit, which will require coordination between the network and platforms.
Harmony has stated that they have not confirmed whether or not a roll-back will be carried out. The incident brings yet another security issue to Harmony’s list. It attracted an exploit on its Horizon Bridge in June 2022 which lost the hacker around $100 million in cryptocurrency. The FBI subsequently chalked up the attack to the North Korea Lazarus Group.
At present, the emphasis is mainly to try to contain the alleged 4 billion ONE inflation while trying to contain the movement of potentially affected funds and trying to figure how the network should be restored.
Read More: SecondFi Exploit Exposes Private Keys as ADA Wallet Flaw Puts Millions at Risk
The post Harmony Hit by Alleged 4B ONE Mint, With 2.8B Tokens Sent to Exchanges appeared first on CryptoNinjas.
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