ONE Dumps to ATL as Harmony Exploited in Unauthorized Mint of 4B Tokens

An attacker has hit the Layer 1 blockchain Harmony and minted at least 4 billion of its native ONE token. Data from CoinGecko shows the token plummeted to a new all-time low of $0.0005735 following the incident.

Hackers Mint 4 Billion ONE X user Juiceberg was among the first to raise the alarm, posting on August 12 that an unknown person had minted 4 billion ONE tokens, which is about 26% of its supply, and moved about 2.8 billion of them into exchanges.

“The attacker has roughly 115M ONE left to sell onchain — about 2.9% of the ~4B they minted,” the on-chain analyst wrote.

“(~97%) is already on exchanges and has either been sold or is sitting in deposit wallets ready to sell.” Soon after, the protocol acknowledged the incident, although it did not disclose the root cause or confirm the amount that had been minted by the hacker.