Harmony Protocol confirmed the fraudulent minting of approximately 4 billion ONE tokens, representing 26% of its total supply. The attacker funneled 2.8 billion ONE to exchanges while 115 million tokens remained available for on-chain sales. The price of ONE crashed by more than 38%, with a sharp rise in short positions indicating traders were betting against the token. Investigator ZachXBT publicly refused to assist Harmony for free, accusing the protocol of exploiting researchers who worked without compensation on the investigation of the 100 million dollar Harmony Bridge hack in 2022, only offering verbal acknowledgment in return.
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