Harmony is assessing whether or not to roll back the network to its pre-attack state. Previously, the attackers had used the loopholes to create nearly 4 billion ONEs, about 26 per cent of the total supply of the coin. Following the incident, the project has worked with several encrypted exchanges to identify and limit financial flows.
Team Synchronize Patch and Funds Freeze
On August 11th, the Harmony team indicated that the developers were preparing to repair the patch while assessing whether the network could be restored to its pre-facing state. The project has not yet disclosed the technical reasons for the loophole, nor has it given the exact amount of the abnormal increase, and how many of the coins have already gone to the exchange.
The external account Juiceberg had previously stated that an abnormal increase could be made through empty blocks. According to its analysis, about 2.8 billion OEs were quickly transferred to the exchange at the beginning of the price decline. The account also estimated that approximately 115 million ONEs remained in the attackers ' chain.
However, the above-mentioned data have not been independently confirmed and Harmony has not yet published a complete inventory of affected supplies.
ONE, once down 50%.
The incident triggered a concentrated market sale. At one point, the price of ONE fell by more than 50 per cent, and by about 33.6 per cent over the past 24 hours. Market concerns have focused on two main points: the sudden expansion of flows and the fact that project parties are rolling back and forth in the chain of discussions.
If large amounts of unusual coins are still in circulation in the market, downblending pressure on supply may continue to suppress prices. On the other hand, the choice to cancel related transactions could also trigger an outside discussion of the unmistakable nature of network governance and chain.
There was a major theft of the bridge.
This is not the first time that Harmony has experienced a major security incident. In 2022, the Network Horizon Cross-Clan Bridge was stolen by about $100 million, later attributed by the United States Federal Bureau of Investigation to the Korean hacker organization Lazarus Group.
Harmony is still working with the exchange to limit the transfer of newly forged coins. The development team continues to clear the gaps and prepare patches. A final decision on whether to implement rollbacks has not yet been made by the project.
Additional information:Support from the certification community as well as from the wider community is often required to drive up and down the chain.