Harmony Suffers Chain Attack, Over 4 Billion ONE Tokens Illegally Minted

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On-chain news broke on August 12 as Harmony suffered a chain attack, with an exploit allowing attackers to mint over 4 billion ONE tokens—26% of the total supply. Approximately 2.8 billion were transferred to exchanges amid a price decline. Harmony is collaborating with teams and exchanges to freeze the funds and develop a protocol update to address the vulnerability.

ChainThink reports that on August 12, according to a tweet by X user Juiceberg, on-chain data shows that the Harmony protocol was exploited, with the attacker illegally minting approximately 4 billion ONE tokens through empty blocks, accounting for 26% of the total supply.

Approximately 2.8 billion ONE were rapidly transferred to exchanges during the price crash. Juiceberg noted that Harmony’s totalSupply endpoint did not reflect this minting, resulting in a discrepancy between the on-chain actual supply and publicly available data.

Harmony responded that it is working with its team and relevant exchanges to block and freeze the associated funds, while also researching patch and rollback solutions.

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