Altcoins News
By James Thorp
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How the Migration Actually Works. The move to Ethereum uses a snapshot-based system. Harmony will take a snapshot of user balances…
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Ethereum's Own Security Record. The irony of fleeing to Ethereum for safety isn't lost on anyone paying attention.
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Harmony Protocol is done. The blockchain network announced it's shutting down its own chain and migrating to Ethereum, citing fears over state-actor threats and AI-driven exploits.
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The announcement came on a Sunday, and it didn't exactly land softly. Just weeks earlier, on August 11, Harmony suffered a security breach that let attackers mint 3 trillion ONE…
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The move to Ethereum uses a snapshot-based system. Harmony will take a snapshot of user balances and airdrop those balances to the same wallet addresses on Ethereum.
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Existing Harmony validators aren't just getting cut loose. The team is encouraging them to shift into new roles: governors, AI video operators, or affiliates within whatever…
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Harmony's stated plan post-migration isn't to rebuild as a DeFi hub or layer-2 competitor. It's pivoting to become part of a "remix economy for AI video.
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The irony of fleeing to Ethereum for safety isn't lost on anyone paying attention. Ethereum is widely considered one of the more secure base layers in crypto, but it's not clean.
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And it's not just Ethereum. A bug affecting multiple chains running a Cosmos EVM module surfaced recently, a reminder that vulnerabilities can hit anywhere, often in shared…
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Read also: Harmony Proposes Shutdown and Migration to Ethereum Following 109,000-Transaction Exploit
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So Harmony isn't really escaping the threat landscape. It's changing addresses. The security of any project on Ethereum comes down to the quality of its own code, not Ethereum's…
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The broader context here matters. Bridge hacks specifically became a defining problem for the industry around 2022.
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It's worth being clear about what's actually happening here. Harmony isn't being acquired. It's not merging with another protocol.
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Users holding ONE tokens in their own wallets have the clearest path forward — the snapshot migration handles them automatically.
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Read also: Ethereums Hegotá Upgrade Kicks Off Quantum-Safe Initiative Ahead of 2029 Deadline
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