Layer 1 blockchain platform Harmony is working with exchanges to freeze funds after allegations that a large amount of ONE tokens were issued without authorisation. It is also reviewing a blockchain rollback.
Cointelegraph reported on Tuesday that Harmony is preparing a patch while also discussing rollback options.
The issue is a claim that an attacker exploited the network to mint about 4 billion ONE. That would amount to about 26 percent of total supply. Harmony said it has not officially confirmed the cause, the number of tokens actually created or the amount moved to exchanges.
An X account called "Juiceburg" claimed that unauthorised ONE was minted through empty blocks and that about 2.8 billion tokens quickly moved to exchanges as the ONE price fell.
Juiceburg estimated that about 115 million ONE remain with the attacker on an on-chain basis. That is about 2.9 percent of the amount claimed to have been minted. The rest may have already been sold or could remain in exchange deposit wallets. Cointelegraph reported that this claim has not been independently verified.
ONE fell 33.9 percent over the past 24 hours as of the time of writing, according to CoinGecko.
Chi-gyu Hwang
delight@d-today.co.kr