Harmony: unauthorized ONE mint reports (~4B class); price crash
12 Aug 2026: Harmony said it is working with exchanges to stop and freeze funds after a suspected Layer-1 security incident, while preparing a patch and evaluating rollback options.
On-chain analyst Juiceberg reported roughly 4 billion ONE minted without authorization (~26% of prior circulating supply class) with a large share routed toward exchanges; Harmony has not publicly confirmed the exact mint size.
ONE sold off sharply (tens of percent). PeckShield-class alerts circulated in the same window. This is not the 2022 Horizon Bridge drain: treat it as an illicit mint / issuance-control failure while root cause details are still emerging.
Exact billion-count remains research-attribution until Harmony confirms.
369 take
Any live mint or issuance path that can print supply is a loaded gun: hard caps, multi-sig, and renounced or tightly gated mint authority matter more than branding.
Pulse lesson: treat owner/mint keys on tokens, bridges, and teleports as fatal if an EOA or low-threshold set can still call them.
Sources