Harmony ONE Hits to All-Time Low After 4B Token Mint Exploit

Harmony, a layer-1 blockchain, saw its native token ONE crash to an all-time low of $0.0005735 on Wednesday, August 12, after an alleged exploit enabled the unauthorized minting of roughly 4 billion ONE tokens.

The incident triggered heavy selling and pushed the token sharply lower as the project moved to freeze potentially affected funds and investigate the breach.

How the Alleged Harmony Exploit Happened

Harmony (ONE) fell after on-chain analyst Juiceberg reported that approximately 4 billion ONE tokens had been minted without authorization through empty blocks. 

The reported amount represented roughly 26% of ONE’s supply, although the figure has not been independently confirmed by Harmony.

Juiceberg also reported that approximately 2.8 billion of the newly minted tokens were moved toward exchanges. The reported transfers increased selling pressure, while ONE briefly fell to its record low before recovering to around $0.00087, according to BeInCrypto.

Harmony Moves to Contain the Damage

Harmony confirmed the unauthorized minting of roughly 4 billion ONE tokens and stated it is coordinating with exchanges to freeze funds linked to four identified attacker wallets. 

The team has paused the Horizon bridge, released a validator patch (v2026.1.1) to block further minting, and is evaluating a network rollback while preparing additional measures for the already-minted tokens.

ONE Plunges After Token Minting Incident

ONE price fell sharply, dropping more than 51% within two hours of the incident and reaching an all-time low of $0.0005735 in the early hours of Aug. 12.

By Wednesday morning in Europe, the token had rebounded 34% and was trading at around $0.0007681 at the time of publication.

With a total and circulating supply of 14.87 billion tokens, ONE has a market capitalization of approximately $11.48 million. The token remains 99.8% below its all-time high of $0.379, reached in October 2021.

Harmony Faces Another Major Security Incident

The incident adds another major security event to Harmony’s history. In June 2022, the project’s Horizon Bridge was exploited for approximately $100 million in crypto assets. U.S. authorities later attributed the attack to North Korean cyber groups Lazarus Group and APT38.

The previous incident also led to controversy over a proposal to mint billions of additional ONE tokens to reimburse affected users. Harmony ultimately faced significant community opposition to the plan.

Why This Matters

A second major exploit in four years — this time hitting token issuance directly rather than a bridge — raises fresh doubts about Harmony’s validator-level security controls.

Check out DailyCoin’s popular crypto news today:
Solana Vote Targets $1.4 Billion in Future SOL Issuance
Memecoin TUT Becomes Most-Liquidated Token After 1,100% Rally