🚨 Chaos in
#Harmony A “print” flaw releases 4 billion tokens and sends the price down 40% while the network evaluates a controversial “rollback”
Layer 1 network Harmony faces a new massive security crisis
An as-yet unexplained vulnerability enabled the unauthorized creation of approximately 4 billion tokens
#one , triggering an abrupt near-40% devaluation of the asset’s price during the Asian trading session.
🔑 Key Takeaways to Understand the Crisis
Massive and Immediate Dilution: The illicit issuance represented a 26% increase over the existing supply (around 15 billion ONE), injecting devastating selling 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 (bridge) was frozen.
Exchanges were asked to immediately block funds linked to 4 key addresses.
The Immutable Dilemma: Harmony is considering applying a rollback (reverting the network to a state prior to the attack). While this would invalidate the coins created, it sparks an intense ethical and technical debate about violating blockchain immutability and risking the cancellation of legitimate transactions (a scenario identical to the one recently faced by Ravencoin).
🔴 A Recurring 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 flaw in the staking system improperly issued 146.3 million ONE to 74 addresses.
June 2022: The infamous $100 million hack of its Horizon bridge, carried out by North Korea’s Lazarus group.
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