Harmony Will Delete Nearly a Week of Its Own Chain History
Harmony has begun a full community rollback that may erase billions of illegally minted ONE tokens from the chain’s historical past.
The plan resets the blockchain to its state on August 11, hours earlier than an attacker cast a recent provide. Validators are already getting ready the restart.
Why the Harmony Rollback Goes Back to August 11
Harmony (ONE) confirmed the restoration plan in a put up on X. The chain will resume from blocks stamped 23:25 UTC on August 11. Everything after that time disappears.
The first cast mint landed two blocks later. Therefore, the crew picked an earlier checkpoint as a security buffer. Independent validators at the moment are loading clear alternative databases for each shards, and the chain stays paused till that work ends.
Developers will give the go-ahead sign as soon as the preparations end. The exploit pushed ONE to a record low final week after roughly 4 billion tokens appeared with out authorization, swelling provide by about 26%.
The Harmony crew weighed softer fixes first. Burning the pretend tokens pockets by pockets risked hitting harmless holders, whereas a blacklist would have left the additional provide on the chain. One cut-off level applies the identical rule to everybody. An exterior safety agency reviewed the incident and backed the crew’s findings.
Few networks take a step this drastic. When Sui stalled in May, block manufacturing merely resumed. Harmony, in contrast, should discard practically a week of exercise.
ONE Price Sits Near Its All-Time Low
ONE modified fingers at roughly $0.00072 on Tuesday, down 4% over 24 hours. Its market worth has shrunk to about $10.6 million, and the current ONE market price leaves the token exterior the highest 1,000 by capitalization.
The rollback removes the solid provide. However, it additionally deletes professional trades, swaps, and staking actions made throughout the identical window. Harmony stated it’s working with exchanges and bridges to melt that hit.
Investigators traced practically all of the solid ONE throughout wallets, swimming pools, and bridges. Tracing just isn’t restoration, although. Once the tokens reached shared balances reminiscent of change wallets, burning them may take cash from unrelated customers.
The case suits a punishing 12 months for crypto safety. Attackers have hit the chain infrastructure repeatedly, from a bridge exploit at Taiko in June to a cluster of July breaches. Meanwhile, stolen funds normally transfer sooner than defenders reply, as critics of Circle argued after April’s Drift assault.
Harmony has not named a restart time. The coming days will present whether or not exchanges reopen ONE deposits, and whether or not holders stick with a chain that rewrote its personal latest previous.
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