Harmony’s ONE token plunged roughly 40% after an apparent exploit minted around 4 billion new ONE tokens, a move that could dilute the supply by about a quarter before the attack was slimmed down on-chain.

On-chain data suggests about 115 million ONE remained in minting addresses, with the rest moved to exchanges or deposit wallets; however, Cointelegraph could not independently verify these figures.

The token traded near $0.00087 at press time, down about 29% for the day after hitting a session low.

The article notes ongoing updates and urges readers to follow for the latest developments.

Options activity shows hedging for a potential move, with the $70,000 BTC call among the most traded and BTC strangles favored to profit from a sharp move in either direction.

Overall market participation remains subdued, with open interest in major assets like Bitcoin and Ether low, signaling limited momentum.

Pepeto promotes a zero-fee cross-chain swap engine and eyeing a Binance listing, arguing audited infrastructure and ready-to-use tools attract capital despite volatility.

The broader context includes ongoing blockchain security concerns, such as Ravencoin’s rollback discussions after invalid blocks, underscoring risks and trade-offs of rolling back transactions.

As of now, the size and location of excess supply, frozen funds, and rollback scope remain unresolved, leaving final resolution open.

Harmony’s validators were instructed to upgrade to implement the patch, with talk of a possible rollback to mitigate economic impact.

Derivatives positioning shows a bearish tilt among takers, with the long-short ratio at 51.36% shorts, indicating downward pressure despite overall market stagnation.

Monero (XMR) rose about 5.8% on the day, while AI-themed tokens like NEAR, FET, and TAO posted modest gains as AI optimism improves.