🚨 Chaos in
#Harmony A flaw "prints" 4.000 million tokens and the price drops 40% while the network evaluates a controversial 'rollback'
The Layer 1 Harmony network is facing a new massive security crisis
An as-yet unexplained vulnerability enabled the unauthorized creation of approximately 4.000 million tokens
#one , leading to an abrupt devaluation of almost 40% in the asset’s price during the Asian trading session.
🔑 Key Points to Understand the Crisis
Massive and Immediate Dilution: The illicit issuance represented an increase of 26% over the existing supply (around 15.000 million ONE), injecting devastating sell pressure into the market.
Emergency Containment Measures:
Harmony deployed an urgent software patch to stop the creation of more tokens.
The network’s token bridge was frozen.
Exchanges were asked to immediately block funds linked to 4 key addresses.
The Unchangeable Dilemma: Harmony is considering applying a rollback (reverting the network to a state prior to the attack). Although this would invalidate the coins created, it sparks intense ethical and technical debate by violating blockchain immutability and risking the cancellation of legitimate transactions (a scenario similar to the one Ravencoin faced recently)
🔴 A Recurrent History of Vulnerabilities
This event is not an isolated case, but the latest chapter in the project’s turbulent security track record:
December 2023: A staking system flaw improperly issued 146.3 million ONE to 74 addresses.
June 2022: The infamous $100 million hack of its Horizon bridge, carried out by the North Korean group Lazarus.
Current Status
Unlike the 2022 hack, this incident did not affect assets held in a bridge, but the protocol’s native issuance.
#HarmonyOne #Hacked $ONE