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Harmony blockchain hit by exploit minting 4B fake tokens, causing 26-50% price crash

Pluang • August 12, 2026

Cryptocurrency prices are fluctuating with Bitcoin trading slightly down at around $64,095. Ethereum and Binance Coin are up by over 1%, while several altcoins like Chainlink (LINK) and Curve (CRV) have seen gains above 3%. Some tokens, including UNI...

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Harmony $ONE Exploit Leads to 4B Fake Tokens and Major Price Drop Harmony ($ONE) experienced a significant exploit on August 12, 2026, resulting in the unauthorized minting of approximately 4 billion tokens, which is about 26% of its total supply. This incident caused the price of $ONE to plummet to an all-time low of around $0.00057, representing a 35% drop from its pre-exploit value. Following the exploit, Harmony confirmed the incident and is collaborating with exchanges to freeze affected funds and develop a software patch. On-chain data showed that a large portion of the newly minted tokens was transferred to exchanges, raising concerns about potential market sell-offs. As of August 13, $ONE is trading between $0.00078 and $0.00081, still significantly lower than before the exploit. The incident has drawn attention from blockchain investigator ZachXBT, who is scrutinizing Harmony's response and the exploit's handling. 6 sources 66

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