Harmony blockchain suffered an exploit where an attacker minted about 4 billion ONE tokens, roughly 26% of its supply, causing the token to drop 40% to a record low. Bitcoin remains stable near $64,000 as markets await the U.S. July inflation report, a key event for risk assets. Oil prices hover near $90 amid geopolitical tensions affecting supply. Crypto futures show bearish shifts, with increased shorting on assets like Avalanche and Dogecoin, while altcoins generally face selling pressure. Market volatility expectations remain low ahead of the inflation data, though some traders hedge for potential sharp moves.
Cryptocurrency markets experienced mixed price movements, with Bitcoin falling 1.13% to $78,829 and Ethereum down 0.43% to $2,471.87. Other altcoins showed varied performance, including notable gains in DOT (up 12.61%), PUMP (7.78%), and WLD (10.34%)...
Harmony Protocol announced it will discontinue its Layer 1 blockchain after seven years, following a severe security breach where hackers minted over 3 trillion unauthorized ONE tokens. The project will migrate ONE tokens to Ethereum via an automatic...
Harmony proposes retiring its seven-year-old layer-1 blockchain and migrating its ONE token to Ethereum as an ERC-20 token after a final network snapshot. Users must exit smart contracts by Sept. 10, and validators can begin shutting down nodes with ...
