#SandboxSANDSuspectedInfiniteMintFlawOnBase
SAND suffers attack from “Infinite Mint” on the Base: what really happened?
The Web3 ecosystem received a strong alert this Saturday after an exploit involving SAND, the The Sandbox token, in its cross-chain infrastructure on the Base network.
On-chain data identified abnormal minting activity, with hundreds of millions of SAND initially created without corresponding backing. The investigation advanced and pointed to compromised permissions related to the OFT contract used for cross-chain communication.
The reported number is striking: analyses even recorded 329 trillion SAND without backing across hundreds of transactions. However, it’s essential not to confuse the nominal value of these tokens with money that was actually stolen. The estimate released for the direct economic loss was close to US$ 665 thousand, related to reserves affected on the Ethereum side.
The good news is that the legitimate supply of SAND on Ethereum was not compromised. The The Sandbox team said it identified and contained the vulnerability related to the cross-chain bridge on Base and BNB Smart Chain, while SAND on Ethereum and Polygon was not affected.
The episode delivers an important lesson: in crypto, huge numbers of newly minted tokens can be alarming, but you must analyze where they were issued, whether they have backing, and how much value actually made it to market liquidity.
More than a story about a crash or panic, the SAND case once again shows that cross-chain security, contract permissions, and audits remain critical points in Web3 infrastructure.
$SAND $BNB $ETH
#sand
#Base
#CryptoSecurity
#Web3
SAND suffers attack from “Infinite Mint” on the Base: what really happened?
The Web3 ecosystem received a strong alert this Saturday after an exploit involving SAND, the The Sandbox token, in its cross-chain infrastructure on the Base network.
On-chain data identified abnormal minting activity, with hundreds of millions of SAND initially created without corresponding backing. The investigation advanced and pointed to compromised permissions related to the OFT contract used for cross-chain communication.
The reported number is striking: analyses even recorded 329 trillion SAND without backing across hundreds of transactions. However, it’s essential not to confuse the nominal value of these tokens with money that was actually stolen. The estimate released for the direct economic loss was close to US$ 665 thousand, related to reserves affected on the Ethereum side.
The good news is that the legitimate supply of SAND on Ethereum was not compromised. The The Sandbox team said it identified and contained the vulnerability related to the cross-chain bridge on Base and BNB Smart Chain, while SAND on Ethereum and Polygon was not affected.
The episode delivers an important lesson: in crypto, huge numbers of newly minted tokens can be alarming, but you must analyze where they were issued, whether they have backing, and how much value actually made it to market liquidity.
More than a story about a crash or panic, the SAND case once again shows that cross-chain security, contract permissions, and audits remain critical points in Web3 infrastructure.
$SAND $BNB $ETH
#sand
#Base
#CryptoSecurity
#Web3