Harmony plans rollback, wiping 109,000 transactions after ONE exploit

cointelegraphPublished on 2026-08-17Last updated on 2026-08-17

Abstract

Harmony plans to roll back its blockchain to August 11th after an exploit created forged ONE tokens, discarding over 109,000 confirmed transactions. The network will revert to a specific block from that date and build a new chain, as selectively restoring transactions was deemed unsafe. The move follows reports of unauthorized ONE minting and distribution to exchanges, with investigators tracing most of the forged tokens. This rollback strategy places Harmony alongside networks like Ravencoin, which also sought to reverse confirmed blockchain activity after an exploit. Ravencoin recently faced a potential chain reorganization due to a consensus flaw.

Harmony plans to roll back its blockchain to Aug. 11 following an exploit that created forged ONE tokens, discarding more than 109,000 transactions confirmed after its chosen checkpoint.

The layer-1 network said Monday that validators would revert to blocks recorded at 11:25 pm UTC on Aug. 11. New blocks will be produced from the next heights using replacement databases.

The discarded window includes 109,126 regular transactions and 315 staking transactions. Harmony said selectively restoring transactions was unsafe because balances, contract states, nonces and other conditions would differ on the replacement chain.

Harmony was considering a rollback last week after reports that unauthorized ONE had been minted and sent to exchanges.

It said Monday that investigators had traced nearly all of the forged ONE to wallets or service boundaries and were working with exchanges, bridges and law enforcement. At last look, the token had a market cap of roughly $10.8 million, according to Coingecko data.

Harmony’s plan puts it alongside Ravencoin among networks seeking to reverse already confirmed blockchain activity after an exploit.

Ravencoin faced a potential three-day blockchain reorganization after a consensus flaw was exploited. Mining pools controlling most of Ravencoin’s hash rate began building a competing chain that could reverse previously confirmed transactions.

Ravencoin recent price of $0.002819 showed a market cap of $46.3 million.

Related: Ethereum devs to narrow 66 proposals tied to Hegotá upgrade

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Related Questions

QWhat action is Harmony planning to take following the exploit that created forged ONE tokens?

AHarmony plans to roll back its blockchain to a checkpoint from August 11th, discarding over 109,000 transactions confirmed after that point.

QTo what specific date and time does Harmony plan to revert its blockchain?

AHarmony's validators will revert to blocks recorded at 11:25 pm UTC on August 11.

QWhy is Harmony not selectively restoring transactions after the rollback?

AHarmony stated that selectively restoring transactions would be unsafe because balances, contract states, nonces, and other conditions would differ on the replacement chain.

QWhat other blockchain network is mentioned as having considered a similar action after an exploit?

AThe article mentions Ravencoin as another network that sought to reverse already confirmed blockchain activity after an exploit, specifically facing a potential three-day blockchain reorganization.

QAccording to the article, what was the approximate market cap of the ONE token at the time of reporting?

AAccording to Coingecko data mentioned in the article, the ONE token had a market cap of roughly $10.8 million.

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