Harmony token plunges 40% after unauthorized mint
An attacker was able to exploit the Harmony blockchain to mint 4 billion of the network's $ONE token. The massive increase in token supply caused the token price to plunge 40%.Harmony paused its token bridge and asked exchanges to freeze tokens coming from four addresses connected to the attacker. They also said they were considering a possible rollback — that is, reverting the blockchain to a pre-attack state, undoing all transactions since that point. This is a very controversial choice in the crypto world, where blockchains are prized for their immutability. It also becomes less effective if attackers are able to move tokens off the network before the rollback happens.This is the second time Harmony has had mint-related issues. In January 2024, a bug caused around 150 million $ONE to erroneously be minted and distributed to 79 wallets. And in June 2022, Harmony suffered a $100 million theft, later attributed by the US FBI to North Korean hacking groups. "Harmony's ONE dives 40% after an attack appears to mint tokens equal to quarter of supply" , CoinDesk
Key takeaway
"Harmony token plunges 40% after unauthorized mint" — BullBear's AI rates this story as a mixed, direction-neutral signal, with a market-impact score of 0 out of 100. An attacker was able to exploit the Harmony blockchain to mint 4 billion of the network's $ONE token. The massive increase in token supply caused the token price to plunge 40%.Harmony paused its token bridge and asked exchanges to freeze tokens coming from four addresses connected to the attacker. They also said they were considering a possible rollback — that is, reverting the blockchain to a pre-attack state, undoing all transactions since that point. This is a very controversial choice in the crypto world, where blockchains are prized for their immutability. It also becomes less effective if attackers are able to move tokens off the network before the rollback happens.This is the second time Harmony has had mint-related issues. In January 2024, a bug caused around 150 million $ONE to erroneously be minted and distributed to 79 wallets. And in June 2022, Harmony suffered a $100 million theft, later attributed by the US FBI to North Korean hacking groups. "Harmony's ONE dives 40% after an attack appears to mint tokens equal to quarter of supply" , CoinDesk Reported by Web3 is Going Just Great on August 12, 2026. The call is verified against the actual 24-hour price move on BullBear's public conviction ledger.
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