Harmony confirms exploit involving unauthorized minting of 4 billion ONE tokens
Quick TakeLayer 1 blockchain platform Harmony confirmed that it had been exploited.X user Juiceberg reported earlier that an attacker had minted 4 billion ONE tokens without authorization.Harmonys Horizon cross-chain bridge was exploited for nearly $100 million in 2022. Layer 1 blockchain platform Harmony confirmed on Wednesday that it had been exploited, following a report of an unauthorized minting of its ONE cryptocurrency. Earlier in the day, an X user named Juiceberg reported that an attacker had minted 4 billion ONE (ONE) tokens by using empty blocks. The token price subsequently plunged, while the totalSupply endpoint did not immediately reflect the increase in supply, according to the X user. “The attacker has roughly 115M ONE left to sell onchain — about 2.9% of the ~4B they minted,” Juiceberg wrote. “The overwhelming majority (~97%) is already on exchanges and has either been sold or is sitting in deposit wallets ready to sell.” ONE token is down 34% in the past 24 hours, trading at around $0.0008. This puts the stolen amount at a current value of roughly $3.2 million. Harmony directly addressed Juicebergs post in its X statement, confirming the exploit and saying it is working with its team and relevant exchanges to stop and freeze the