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

Harmony blockchain suffered a major exploit where about 4 billion ONE tokens, roughly 26% of its supply, were minted fraudulently via a vulnerability involving empty blocks. Over 10,000 transfers sent these tokens to 409 wallets, with 2.8 billion quickly moved to exchanges, triggering a sharp price drop of up to 50%. Harmony responded by alerting exchanges to freeze funds, patching the vulnerability, pausing its bridge, and considering a blockchain rollback to erase fraudulent transactions. The incident risks diluting existing holders or reversing recent purchases, depending on the rollback decision and exchange actions.