• About
  • Privacy Poilicy
  • Disclaimer
  • Contact
CoinInsight
  • Home
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Ripple
  • Future of Crypto
  • Crypto Mining
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Ripple
  • Future of Crypto
  • Crypto Mining
No Result
View All Result
CoinInsight
No Result
View All Result
Home Future of Crypto

Harmony Works on Rollback Approach After 4B ONE Exploit

Coininsight by Coininsight
August 13, 2026
in Future of Crypto
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Coinbase Completes Deribit Integration, Plans Options Rollout

October 8, 2026

Why Abstract is killing its Ethereum L2 instead of launching a token to save it

October 7, 2026


Harmony, a Layer-1 blockchain network, is moving forward with a blockchain rollback approach (emergency process that rewinds a blockchain’s history to a previous state, erasing or altering confirmed blocks and transactions to fix major bugs, hacks, or consensus errors) after an exploit that led to the illegal minting of roughly 4 billion ONE tokens, representing about 26% of the token supply. The rollback has emerged as the most feasible and practical solution as Harmony coordinates with validators and exchanges to understand the path ahead. The project has also begun a mint bug fix and said a full list of exploiter wallets will be out soon.

The attack has put Harmony under pressure as the attacker rapidly moved billions of unauthorized minted tokens towards exchanges. Harmony is now planning to control the remaining funds, complete the emergency validator upgrade, and understand how this blockchain activity can be reversed.

Harmony Prepares for a Reversal After the ONE Exploit

Harmony mentioned it is working with validators and exchanges on a specific rollback approach after the exploit allowed unauthorized ONE tokens to enter circulation. As per the information provided by Harmony, the project recorded 10,288 transfers across 409 wallets where unauthorized minted tokens landed. 

But roughly 2.8 billion ONE quickly funneled to exchanges and the token’s price plunged. The attacker is estimated to have around 115 million ONE left to sell on-chain, representing about 2.9% of 4 billion tokens minted. The extensive majority, around 97%, has already reached exchanges, and has either been sold or remains in deposit wallets for sale. Harmony’s answer is now focused on containing the illegal supply. The project had previously said it was working on a patch and rollback options, with the rollback now appearing to be the most feasible support as the practical solution.

Harmony’s Response to Emergency Minting Bug

The mint bug fix has now been activated, with the blockchain working to restrict further unwanted minting. Simultaneously, the validators upgrade to the emergency patch. Four hours after the patch was released, 53% of Harmony’s validator had completed the upgrade. Harmony thanked validators for their help as the emergency upgrade continued, while saying more details on the rollback plan would be out within a few hours. The team is also planning to release a comprehensive list of exploited wallets.

The blockchain has been founded by Stephen Tse and its mainnet was launched in 2019. The blockchain uses Secure Random State Sharding as its core technology. The project was placed as a better and cheaper layer-1 alternative to Ethereum. Harmony was on its peak in the year 2021, when early-year MetaMask integration helped drive interest in the blockchain. In September that year, it announced a $300 million development fund, while ONE reached an all-time high of nearly $0.38 in October.

The price of the ONE token plunged by more than 30% as soon as the news of the exploit broke out yesterday, August 12, 2026. Interestingly, as of now, ONE is trading at $0.0008167 with an uptick of 6.7% in the last 24-hours as per CoinGecko. 

ONE 24-hour chart
ONE 24-hour chart

ZachXBT Denies Tracking the Exploit

On-chain investigator ZachXBT has denied tracking the Harmony hack incident. He describes it as freeloading investigators and other assistants. He also emphasizes that he would not track the incident or encourage others to help the blockchain for free. ZachXBT pointed to the $100 million Horizon Bridge exploit in 2022, reporting that Harmony had previously failed to reward people who helped with major freezes. They offered no monetary help and said, “good job.”

As per now, Harmony’s immediate priorities are fulfilling the emergency validator upgrade, limiting the remaining exploiter funds, and reaching agreement with validators and exchanges on a better rollback path. The result of the process will determine how the network handles unauthorized minted ONE and whether the affected transactions can be feasibly reversed.

Disclaimer: This article is for informational purposes only, not financial advice. Crypto markets are risky. Please do your own research and talk to a financial advisor before investing. Explore our Terms and Conditions and Privacy Policy for more information.
Share76Tweet47

Related Posts

Coinbase Completes Deribit Integration, Plans Options Rollout

by Coininsight
October 8, 2026
0

Key Highlights: Coinbase has completed its Deribit integration and created Coinbase Global Exchange. Options, spot margin and unified portfolios are...

Why Abstract is killing its Ethereum L2 instead of launching a token to save it

by Coininsight
October 7, 2026
0

Abstract will shut down on Dec. 15 despite onboarding more than 400,000 users, hosting 144 apps, and landing brands including...

CFTC Wants Clearer Rules for Leveraged Crypto Trading in Major US Regulatory Push

by Coininsight
October 6, 2026
0

The CFTC wants leveraged crypto exchanges to operate under clearer federal rules covering customer funds, surveillance, and market integrity....

Meet an Atlassian Williams F1 Team driver at the United States GP

by Coininsight
October 6, 2026
0

TL;DR We’re giving six fans (plus a guest) a face-to-face Meet & Greet with an Atlassian Williams F1 Team driver...

CFTC Seeks Public Input on Proposed Retail Crypto Regulatory Framework

by Coininsight
October 5, 2026
0

IG Expects Lower Q3 Revenue; MetaQuotes Adds Benzinga News IG Expects Lower Q3 Revenue; MetaQuotes Adds Benzinga News IG Expects...

Load More
  • Trending
  • Comments
  • Latest
What’s Actually Going On With Ripple’s Blockchain?

What’s Actually Going On With Ripple’s Blockchain?

January 12, 2026
MetaMask Launches An NFT Reward Program – Right here’s Extra Data..

MetaMask Launches An NFT Reward Program – Right here’s Extra Data..

July 24, 2025
Finest Bitaxe Gamma 601 Overclock Settings & Tuning Information

Finest Bitaxe Gamma 601 Overclock Settings & Tuning Information

November 26, 2025
Naval Ravikant’s Web Price (2025)

Naval Ravikant’s Web Price (2025)

September 21, 2025
Kuwait bans Bitcoin mining over power issues and authorized violations

Kuwait bans Bitcoin mining over power issues and authorized violations

2
The Ethereum Basis’s Imaginative and prescient | Ethereum Basis Weblog

The Ethereum Basis’s Imaginative and prescient | Ethereum Basis Weblog

2
Unchained Launches Multi-Million Greenback Bitcoin Legacy Mission

Unchained Launches Multi-Million Greenback Bitcoin Legacy Mission

1
Earnings Preview: Microsoft anticipated to report larger Q3 income, revenue

Earnings Preview: Microsoft anticipated to report larger Q3 income, revenue

1

Should you suspend someone accused of sexual harassment?

October 8, 2026

XRP Nears $1.40 as Evernorth Delays Nasdaq Debut

October 8, 2026

FinCEN Withdraws $10,000 Crypto Wallet Reporting Rule

October 8, 2026

Microsoft (MSFT): Azure AI Growth Keeps Capex Returns in the Spotlight

October 8, 2026

CoinInight

Welcome to CoinInsight.co.uk – your trusted source for all things cryptocurrency! We are passionate about educating and informing our audience on the rapidly evolving world of digital assets, blockchain technology, and the future of finance.

Categories

  • Bitcoin
  • Blockchain
  • Crypto Mining
  • Ethereum
  • Future of Crypto
  • Market
  • Regulation
  • Ripple

Recent News

Should you suspend someone accused of sexual harassment?

October 8, 2026

XRP Nears $1.40 as Evernorth Delays Nasdaq Debut

October 8, 2026
  • About
  • Privacy Poilicy
  • Disclaimer
  • Contact

© 2025- https://coininsight.co.uk/ - All Rights Reserved

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Ripple
  • Future of Crypto
  • Crypto Mining

© 2025- https://coininsight.co.uk/ - All Rights Reserved

Social Media Auto Publish Powered By : XYZScripts.com
Verified by MonsterInsights