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Harmony weighs rollback after suspected ONE token supply inflation
Harmony is coordinating with exchanges to freeze funds and is preparing a patch after claims of unauthorized ONE minting, equal to about 26% of the token supply.
Harmony is considering rolling back its blockchain after claims that an attacker exploited the network to mint nearly 4 billion unauthorized ONE tokens, an amount described as about 26% of the token’s total supply, Cointelegraph reports.
The layer-1 network said it is working with exchanges to stop and freeze funds and is evaluating rollback options while preparing a patch, though it did not confirm the cause, the number of tokens created, or how many tokens were sent to exchanges.
The comments from Harmony were posted in response to an X account, “Juiceberg,” which alleged the unauthorized tokens were minted through empty blocks and then funneled to exchanges as ONE’s price fell; the account claimed about 2.8 billion tokens reached trading platforms and estimated 115 million ONE remained onchain.
Cointelegraph also noted it could not independently verify the claims, and it said the incident follows Harmony’s June 2022 Horizon Bridge hack, which was later attributed by the FBI to North Korea’s Lazarus Group and resulted in theft of about $100 million in cryptocurrency.