ONE Token crashes 30 percent due to exploit

There was an unauthorized mint of around 26-percent when the attacker moved 2.8-billion ONE token to the exchanges to dump them. Around 4 billion ONE tokens were minted by the attacker. The attacker market dumped all the tokens, so the total number of tokens have now expanded to 115 million ONE tokens. 

The exploit has been confirmed by the Harmony team and it is working with exchanges to freeze the funds. A chain rollback is also in the tunnel which means we could see something like Ethereum-fiasco redone in 2026. 

Is it a hack or a rug pull by the insiders? It is too early to tell right now. 

Some say this is more than a 30% token crash. If an attacker really minted an amount equal to roughly 26% of ONE’s supply, the bigger problem is what happens next.

Billions of newly created tokens potentially sitting in exchange wallets creates enormous sell-side risk. Harmony freezing funds and considering a rollback may contain the damage, but confidence is much harder to restore.

When the supply itself can be compromised, the market has a much bigger problem than price.