Harmony Withdraws Its Reimbursement Proposal Amid Backlash

Harmony cancels its reimbursement proposal.

The blockchain network Harmony announced a reimbursement program on 27th July.

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The proposal resulted from a recent $100 million hack that the network faced.

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The Horizon Bridge proposed to mint 4.97 billion $ONE native tokens to amend the effects of the hack.

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A portal to get the feedback of the public was opened yesterday for the same.

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However, the network was backlashed after the announcement.

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Some users labeled it as LUNA3.0 in the feedback section.

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As a result, the reimbursement proposal was decided to be withdrawn today.

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