Harmony Protocol proposes to sunset blockchain and migrate ONE token to Ethereum
Harmony Protocol has proposed winding down its blockchain and migrating ONE holders to Ethereum amid security concerns.
Why it matters
Harmony's decision to wind down its blockchain and migrate to Ethereum reflects the ongoing challenge smaller layer-1 protocols face in retaining users and securing their infrastructure. The move follows multiple security incidents and a steep decline in total value locked, raising questions about the viability of standalone chains in the current environment.
Key facts
Harmony Protocol has proposed sunsetting its blockchain and migrating the ONE token to Ethereum.
Reported by Protos
The migration would use a final-block snapshot with new tokens airdropped to the same wallet addresses on Ethereum.
Reported by Protos
Harmony cited security risks, stating the threats posed by state actors and AI agents are too great.
Reported by Protos
On August 11, Harmony suffered an exploit that resulted in unauthorized minting of 3 trillion native ONE tokens.
3,000,000,000,000 tokensReported by Protos
The Harmony team executed a rollback of the chain following the August exploit, restoring its pre-hack state.
Reported by Protos
ONE's price dropped sharply after the August hack and has lost more than 40% of its value over the past month.
40 %Reported by Protos
Harmony's total value locked has fallen to $150,000 from a peak of over $1 billion in 2022.
150,000 USDReported by Protos
The September 10 deadline applies for users with ONE deployed onchain in smart contracts, multisig safes, liquidity pools and apps.
Reported by The Defiant
What happened
Harmony Protocol announced plans to sunset its blockchain network, launched in 2019, citing security risks from state actors and AI agents. Under the proposal, ONE holders would receive new tokens on Ethereum via a final-block snapshot and automatic airdrop to their existing wallet addresses, with token emissions redirected to fund a new video platform the team calls the Remix Economy for AI Video. The notice describes the plan as non-binding and subject to change. Both Protos and The Defiant reported the announcement, attributing the decision to security concerns, though neither outlet could independently verify the rationale.
How the story developed
- First report
First report by Protos
Harmony shuts down over AI fears, but will it be safer on Ethereum?
- Update
Harmony Protocol proposes sunsetting blockchain and migrating ONE to Ethereum
The project announced plans to wind down its blockchain and move ONE holders to Ethereum, citing security threats from state actors and AI agents.
- Independent corroboration
Independently corroborated by The Defiant
Harmony Proposes Sunsetting Network and Moving ONE to Ethereum for AI Video Pivot
- Update
The Defiant provides additional details on the proposal
The Defiant reported token emissions would be redirected to a new Remix Economy for AI Video business, and that the proposal is non-binding.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 8 Sept 2026, 11:38 UTC: Protos — 1 independent source, 1 reports
- 8 Sept 2026, 15:40 UTC: The Defiant — 2 independent sources, 2 reports
Affected entities
Also mentioned: Base, KuCoin
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Protos Crypto media | Harmony shuts down over AI fears, but will it be safer on Ethereum? | Original | |
| The Defiant Crypto media | Harmony Proposes Sunsetting Network and Moving ONE to Ethereum for AI Video Pivot | Independent |
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