Just saw this whole #sand thing, and my first reaction was also a bit stunned
“Stolen 49.0 billion dollars”???
How big is the whole SAND project anyway?
After reading it carefully, I realized it’s not what it seems
This time, the problem for The Sandbox is with the cross-chain bridges on Base and BNB Chain. The attacker can mint SAND out of thin air with no collateral—$SAND .
Then a really ridiculous number shows up
If you calculate the nominal value based on the SAND minted out of thin air, it once came close to 49.0 billion dollars
I looked through it all carefully, and honestly, this “49.0 billion” figure is pretty sensational
Yes, the hacker minted a lot of uncollateralized SAND. But if you actually expect him to use those coins to sell them—let alone 49.0 billion—the liquidity pool would probably get smashed through first
So take this number with a grain of salt. It’s completely different from the “49.0 billion dollars actually stolen”
So far, The Sandbox has already paused the bridges on Base and BNB Chain, and also warned users on these two chains not to touch their SAND
Ethereum and Polygon are currently unaffected
When I first saw the “49.0 billion dollars,” I was like
Damn, is this another black swan event coming?
Turns out after reading it through, the clickbait is officially confirmed
“Stolen 49.0 billion dollars”???
How big is the whole SAND project anyway?
After reading it carefully, I realized it’s not what it seems
This time, the problem for The Sandbox is with the cross-chain bridges on Base and BNB Chain. The attacker can mint SAND out of thin air with no collateral—$SAND .
Then a really ridiculous number shows up
If you calculate the nominal value based on the SAND minted out of thin air, it once came close to 49.0 billion dollars
I looked through it all carefully, and honestly, this “49.0 billion” figure is pretty sensational
Yes, the hacker minted a lot of uncollateralized SAND. But if you actually expect him to use those coins to sell them—let alone 49.0 billion—the liquidity pool would probably get smashed through first
So take this number with a grain of salt. It’s completely different from the “49.0 billion dollars actually stolen”
So far, The Sandbox has already paused the bridges on Base and BNB Chain, and also warned users on these two chains not to touch their SAND
Ethereum and Polygon are currently unaffected
When I first saw the “49.0 billion dollars,” I was like
Damn, is this another black swan event coming?
Turns out after reading it through, the clickbait is officially confirmed
