🚨 SAND BRIDGE EXPLOIT: BASE & BNB CHAIN TRANSFERS HALTED
The Sandbox has contained a cross-chain bridge exploit that allowed an attacker to mint unbacked SAND tokens on Base and BNB Smart Chain.
🔹 Bridging to/from Base & BNB Smart Chain has been suspended
🔹 The Sandbox says Ethereum and Polygon SAND remain unaffected
🔹 No user wallets were reported compromised
🔹 Users have been warned not to trade or provide liquidity for SAND on Base/BSC for now
🔹 A pre-incident snapshot and compensation plan for eligible liquidity providers are being prepared
Security researchers reported extremely large amounts of unbacked SAND being minted, but those headline figures do not represent equivalent realized financial losses. The Sandbox says the actual impact represents less than 0.01% of total SAND supply.
👀 Watch next: bridge reopening, the full post-mortem, exchange deposit/withdrawal updates, and SAND liquidity.
Do you think bridge exploits are becoming crypto’s biggest infrastructure risk?
#SAND #BNBChain #CryptoNews #Web3 #Security
⚠️ For informational purposes only. Not financial advice.
The Sandbox has contained a cross-chain bridge exploit that allowed an attacker to mint unbacked SAND tokens on Base and BNB Smart Chain.
🔹 Bridging to/from Base & BNB Smart Chain has been suspended
🔹 The Sandbox says Ethereum and Polygon SAND remain unaffected
🔹 No user wallets were reported compromised
🔹 Users have been warned not to trade or provide liquidity for SAND on Base/BSC for now
🔹 A pre-incident snapshot and compensation plan for eligible liquidity providers are being prepared
Security researchers reported extremely large amounts of unbacked SAND being minted, but those headline figures do not represent equivalent realized financial losses. The Sandbox says the actual impact represents less than 0.01% of total SAND supply.
👀 Watch next: bridge reopening, the full post-mortem, exchange deposit/withdrawal updates, and SAND liquidity.
Do you think bridge exploits are becoming crypto’s biggest infrastructure risk?
#SAND #BNBChain #CryptoNews #Web3 #Security
⚠️ For informational purposes only. Not financial advice.