Harmony ONE Plunges to Record Low After 4 Billion Token Exploit

Harmony's native token, ONE, plunged to an all-time low on Wednesday, August 12, 2026, after an alleged exploit allowed for the unauthorized minting of approximately 4 billion tokens, representing roughly 26% of the cryptocurrency's total supply. The incident triggered a massive sell-off and prompted the blockchain project to coordinate with exchanges to freeze potentially affected funds while it investigates the breach.

The exploit was first reported by on-chain analyst Juiceberg, who identified that the new tokens were minted through empty blocks. According to the analysis, approximately 2.8 billion of the newly created tokens were quickly moved toward centralized exchanges, a transfer that significantly increased selling pressure. The token's price fell more than 51% within two hours of the incident, hitting a record low of $0.0005735 in early Asian trading hours. By Wednesday morning in Europe, ONE had partially recovered, trading around $0.0007681, though it remained down approximately 29% on the day.

In response, the Harmony team confirmed the unauthorized minting and stated it is working with exchanges to stop and freeze funds traced to four identified attacker wallets....