Bitcoin holds near $64,000 as U.S. inflation data looms, Harmony exploit rattles altcoins
Bitcoin prices remain stable near $64,000 as investors await U.S. inflation data, despite a significant exploit on the Harmony blockchain. The Harmony network suffered a loss of 4 billion ONE tokens, causing a sharp decline in the token's value.
Why it matters
The incident underscores the persistent security risks in decentralized finance protocols and the market's sensitivity to macroeconomic indicators like CPI prints.
Harmony, a layer-1 blockchain network for DeFi protocols and marketplaces. confirmed it had been hit by an exploit early in the Asian day. An attacker minted some 4 billion ONE tokens through empty blocks, representing about 26% of the token's circulating supply.
Around 2.8 billion of the tokens were quickly funneled to exchanges, pushing ONE down as much as 40% to a record low.
Broader markets were also little changed before the July U.S. CPI print, due at 12:30 UTC. Brent crude is near $90 a barrel after more Houthi attacks on shipping in the Bab el-Mandeb Strait and a U.S. strike on a vessel in the Gulf of Oman renewed supply concerns overnight.
Bitcoin BTC $ 64,031.27 absorbed all of this quietly, adding 0.23% since midnight UTC to around $63,900. The Fear and Greed index is at 38.
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