Now Reading: Harmony mulls blockchain rollback after 4 billion ONE tokens minted
-
01
Harmony mulls blockchain rollback after 4 billion ONE tokens minted
Harmony, a blockchain network, is considering a rollback after an alleged exploit led to the unauthorised minting of nearly 4 billion ONE tokens, roughly 26% of its existing supply. Gadgets360 reports the…
The Story in Brief
Harmony, a blockchain network, is considering a rollback after an alleged exploit led to the unauthorised minting of nearly 4 billion ONE tokens, roughly 26% of its existing supply. Gadgets360 reports the network has released an emergency patch, halted its token bridge, and worked with exchanges to freeze suspicious funds.
Harmony says thousands of transfers involving hundreds of wallets have been traced as it investigates the incident and weighs how to handle the newly minted tokens. The scale of the exploit could affect token value and user trust.
The Indian Opinion
Some in crypto circles rush to paint this as proof that blockchain rollbacks make networks centralised and unreliable. But Harmony acted transparently, issuing a patch, freezing funds, and consulting validators. The real test is not the rollback itself but whether the community votes for it and how the network compensates honest users. Will a rollback actually reverse all illicit trades without harming legitimate owners?
Source: gadgets360.com
This story was synthesised by AI from the source linked above.
