Harmony ONE Price Hits Record Low After Suspected 4 Billion Token Exploit

Highlights:

• Harmony investigates a suspected exploit after about 4 billion ONE tokens were reportedly minted without authorization.
• ONE fell sharply after billions of newly created tokens moved to exchanges, increasing selling pressure.
• Harmony is working with exchanges to freeze linked funds while developers prepare a patch and rollback options.

Harmony, a layer-1 blockchain network that uses ONE as its native token, is investigating a suspected exploit after about 4 billion ONE tokens were reportedly created without permission. The incident caused heavy selling and pushed the ONE price sharply lower. On August 12, on-chain researcher Juiceberg said the newly created tokens represented around 26% of ONE’s existing supply.

According to Juiceberg, the attacker used empty blocks to mint the tokens. Around 2.8 billion ONE were then moved to exchanges, increasing selling pressure on the market. The researcher also said Harmony’s supply data did not immediately show the newly created ONE tokens.

Harmony exploited as on-chain data reveals unauthorized 4B ONE mint (26% of supply) via empty blocks, with 2.8B quickly funneled to exchanges as price crashed while totalSupply endpoint hides the inflation $ONE

— Juiceberg (@the_juice_berg) August 12, 2026

Harmony responded later on August 12 and said it was working with exchanges to stop the movement of the funds. “We are working with our team and appropriate exchanges to stop and freeze the funds,” the project said. Harmony also said its developers were working on a patch and reviewing possible rollback options.

We are working with our team and appropriate exchanges to stop and freeze the funds.

We are working on a patch and rollback options.

Will update when we have new information. https://t.co/XB0nCwTAyN

— Harmony 💙 (@harmonyprotocol) August 12, 2026

Harmony ONE Price Falls to New All-Time Low

The suspected exploit had an immediate impact on the Harmony ONE price. CoinMarketCap data shows ONE traded as high as $0.00124 during the 24-hour period before falling to a new all-time low of $0.0005357 on August 12. From the 24-hour high to the new low, ONE lost roughly 57% of its value. The token later recovered part of the decline but remained sharply lower.

At the time of writing, CoinMarketCap showed Harmony trading near $0.0007889, down around 34.39% over 24 hours. Trading volume also jumped to about $42.35 million, showing a sharp increase in market activity during the sell-off.

Based on ONE’s 24-hour high of $0.00124, the 4 billion newly minted tokens would have been worth around $4.96 million. The 2.8 billion ONE reportedly moved to exchanges would have been worth about $3.47 million at the same price. These figures are estimates because ONE’s price changed quickly during the incident.

Harmony Asks Exchanges to Freeze Linked Funds

Harmony later shared four wallet addresses linked to the movement of the funds. The project asked exchanges to block and freeze assets traced back to those wallets. Juiceberg later reported that the attacker had around 115 million ONE still available to sell on-chain. That represented about 2.9% of the roughly 4 billion ONE reportedly minted.

According to the researcher, around 97% of the newly created tokens had already reached exchanges or exchange deposit wallets. Some of those tokens may have already been sold, while others could still be waiting in exchange wallets.  Harmony has not yet released a full technical report explaining how the unauthorized mint happened. The team has also not confirmed whether it will move ahead with a blockchain rollback.

Harmony Faced a Major Bridge Hack in 2022

Harmony has suffered a major security incident before. In June 2022, attackers stole around $100 million in crypto assets from the Horizon Bridge. However, the latest incident is different. In the previous case, the assets in question were those from the cross-chain bridge of Harmony. On the other hand, the current situation involves the creation of billions of ONE coins without proper authorization. The recent occurrence has raised fears regarding the issues with the supply of tokens.