The Harmony Layer-1 blockchain was exploited, allowing an attacker to unauthorizedly mint approximately 4 billion ONE tokens (about 26% of the supply) via empty blocks and related flaws. Large amounts were quickly funneled to exchanges for sale, causing the token price to crash ~30-40%. The team confirmed the incident, paused the cross-chain bridge, released an emergency validator patch to stop further minting, coordinated with exchanges to freeze funds, and is evaluating a chain rollback.