Market Flux Event
Harmony Protocol Exploit Mints 4 Billion ONE Tokens, Crashing Price to All-Time Low
Harmony Protocol suffered a major exploit in early Asian trading on Wednesday after an attacker allegedly minted approximately 4 billion ONE tokens without authorization, an amount equal to roughly 26% of the token's total circulating supply. The attack sent ONE crashing as much as 30%, hitting an all-time low of $0.0005735. On-chain analyst Juiceberg first flagged the unauthorized mint, with about 2.8 billion of the newly created tokens funneled to exchanges before the breach was widely confirmed.
Harmony acknowledged the exploit and said it is coordinating with exchanges to freeze the transferred funds while it develops a patch and evaluates a potential chain rollback.
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Sources
- CoindeskHarmony’s ONE falls 26% after attacker allegedly mints 4 billion tokens
- Coin DeskHarmony’s ONE dives 26% after an attack appears to mint tokens equal to quarter of supply
- CointelegraphALERT: Harmony Protocol exploited via an unauthorized 4B ONE mint, with 26% of supply minted and 2.8B funneled to exchanges as price crashed. The team says it's working with exchanges to freeze funds and prep a patch.
- Be In CryptoHarmony Token Falls to Record Low After Exploit Mints 4 Billion ONE
- theblock.coHarmony confirms exploit involving unauthorized minting of 4 billion ONE tokens
- The BlockHarmony confirms exploit involving unauthorized minting of 4 billion ONE tokens
- coinpedia.orgHarmony Protocol Hack: 4 Billion ONE Tokens Minted, Price Crashes 30%