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Harmony to shut down its network and move ONE to Ethereum
The Sept. 6 plan would preserve ONE via an Ethereum snapshot and airdrop after a rollback tied to an Aug. 11 exploit that led to about 3.01 trillion unauthorized tokens.
Harmony is proposing to end its own blockchain after executing a rollback less than three weeks ago, and instead migrate its ONE token to Ethereum. The Sept. 6 plan would shut down Harmony’s independent network, using a snapshot at the chain’s final block and an airdrop of new ONE to the same wallet addresses on Ethereum, according to CryptoSlate.
The shift reverses Harmony’s Aug. 17 position, when it rejected migration as too disruptive. Harmony previously restored the chain after an Aug. 11 exploit that let attackers reuse cross-shard receipts to mint tokens without corresponding debits, with the project initially reporting 4 billion ONE created in the attack and later estimating roughly 3.01 trillion ONE across six forged transactions.
Harmony completed the rollback on Aug. 21, discarding more than 109,000 regular transactions and 315 staking transactions from the affected shard-0 archive, and said the network was operating normally afterward. The proposal also says smart contracts, liquidity pools, and multisig safes will not migrate automatically, and urges users to exit smart contracts before Sept. 10, with validators potentially beginning shutdown at 7 a.m. Pacific that day.
Harmony cited a second major attack risk, pointing to its earlier Horizon bridge incident in June 2022 that the FBI later attributed to North Korea’s Lazarus Group, and said the threats posed by state actors and AI agents are too great. The company outlined a $1.37 million compensation pool to be paid to governors and delegators over four quarters, subject to shutdown and service conditions, while repurposing future ONE emissions toward its AI-video initiative.
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