Harmony to Roll Back Blockchain to Aug. 11 Following Exploit

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.