Crypto markets were steady on Wednesday as traders absorbed a protocol exploit while waiting for a U.S. inflation report that often sets the tone for risk assets.
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 absorbed all of this quietly, adding 0.23% since midnight UTC to around $63,900. The Fear and Greed index…
