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ONE Harmony has shifted from considering rollback operations to announcing precise checkpoints it plans to use after attackers forged trillions of ONE tokens. This restoration decision would discard legitimate post-checkpoint activity and malicious status, making it one of the most damaging options an active blockchain can take.
In an event update on August 17, Harmony stated that the verifier would use alternative databases with a fragment 0 block height of 92,730,034 and a fragment 1 block height of 94,978,278. Both blocks correspond to 23:25:37 UTC on August 11.
Why the full recovery state was selected
The block height where the first confirmed counterfeit coin entered slice 0 was 92,730,036. Harmony chose block 92,730,034 as a single-block security buffer because the middle block does not contain any regular or pledged transactions, incoming receipts, gas consumption, and has the same status. Slice 1 was not where the counterfeit coin occurred, but the team aligned it with the same timestamp for precautionary reasons. After the validator switches to the replacement database, new blocks will be generated starting at heights 92,730,035 and 94,978,279.
Harmony said it had considered targeted destruction, wallet blacklisting, token migration, selective transaction replays, and simpler database rollback. But these methods were ultimately rejected because the forged ONE had flowed through exchanges, decentralized trading pools, contracts, cross-chain bridges, pledged positions, and shared wallets. Therefore, selective removal of balances may harm unrelated users or lead to inconsistent status.
Tracking is extensive and not attributed
A counterfeit coin wallet attempted 534 transfers of 5 billion ONE each in 106 seconds. Harmony said 477 of the transfers were successful, transferring 2.385 trillion ONEs. Subsequent capital flow models restored almost all forged amounts that crossed service boundaries and transaction costs.
Theteam emphasized that tracing tokens to a wallet, trading pool, exchange or service does not identify specific individuals, nor does it allow the funds to be safely destroyed. Shared balances may contain assets belonging to many unrelated users. Harmony said it is working with exchanges, cross-chain bridges, law enforcement and an independent security company, and the investigation is still ongoing.
Legal transactions will also be lost
The affected Shard 0 archive contains 141,628 consecutive blocks and 109,126 regular transactions, as well as 315 pledged transactions. Harmony classifies 95.8% of regular transactions as automated transactions, but this still leaves real activity that cannot be safely restored.
Balances, nonce, transaction pool reserves, authorizations, exchange deadlines, and pledge status will change along the substitution chain. Therefore, replaying old transactions may produce different results or lead to the successful execution of previously failed transactions.
This incident highlights the operational risks behind cross-chain and decentralized market infrastructure that are already evident in the rapid growth of sustainable DEX activity. Harmony's plan may remove counterfeit status, but execution now depends on the coordination of validators and whether exchanges and cross-chain bridges can properly respond to the disruption without processing transactions from abandoned chains.
