Harmony has announced it will roll back its layer-1 blockchain to a checkpoint recorded at 11:25 pm UTC on August 11, discarding more than 109,000 transactions confirmed after that point, following an exploit that allowed attackers to forge ONE tokens.
What Gets Wiped
The abandoned window contains 109,126 regular transactions and 315 staking transactions. Harmony stated that selectively restoring individual transactions is not a viable option because balances, contract states, nonces and other chain conditions would be inconsistent on the replacement chain. Validators will build new blocks from the next available block heights using fresh replacement databases.
How the Exploit Unfolded
Reports of unauthorised ONE token minting emerged last week, with the forged tokens subsequently sent to exchanges. Harmony said on Monday that investigators have now traced nearly all of the fabricated ONE tokens to specific wallets or service boundaries, and the team is cooperating with exchanges, bridges and law enforcement. At last check, ONE carried a market cap of approximately $10.8 million, according to CoinGecko data.
Why a Selective Fix Was Ruled Out
The network explained that a surgical, transaction-by-transaction restoration would introduce chain-state inconsistencies across balances, smart contract states and transaction nonces, making a clean full rollback the only technically sound path forward.
Ravencoin Faces a Parallel Rollback Battle
Harmony’s decision places it alongside Ravencoin as networks actively pursuing a reversal of already-confirmed blockchain activity in the wake of an exploit. Ravencoin faces a potential three-day blockchain reorganisation after a consensus flaw was exploited, with mining pools controlling the majority of its hash rate having begun constructing a competing chain capable of reversing previously confirmed transactions. Ravencoin’s recent price of $0.002819 implied a market cap of $46.3 million.
