The Sandbox just hit another serious cross-chain security issue, with an attacker exploiting its SAND bridge to mint unbacked tokens on Base and BNB Chain. The project has now suspended SAND bridging on both networks while investigating the incident.
What makes this especially concerning is the scale of the fraudulent minting. Blockaid estimates roughly $49 billion worth of SAND was created in face value across more than 400 transactions, although The Sandbox says the actual impact is below 0.01% of total SAND supply. Ethereum and Polygon remain unaffected, and the project says user wallets were not compromised.
For traders, the biggest risk is currently concentrated around SAND on Base and BNB Chain, where liquidity has been compromised and users have been warned against buying, selling or trading the token. Major Korean exchanges have also paused SAND deposits and withdrawals as a precaution.
The incident is another reminder that bridges remain one of crypto’s biggest attack surfaces. With The Sandbox preparing a pre-incident snapshot and compensation for qualifying liquidity providers, the next major focus will be the post-mortem and how quickly the team can restore confidence in the affected networks. $BNB
#BNBChain# #BNB #Macro Insights#
What makes this especially concerning is the scale of the fraudulent minting. Blockaid estimates roughly $49 billion worth of SAND was created in face value across more than 400 transactions, although The Sandbox says the actual impact is below 0.01% of total SAND supply. Ethereum and Polygon remain unaffected, and the project says user wallets were not compromised.
For traders, the biggest risk is currently concentrated around SAND on Base and BNB Chain, where liquidity has been compromised and users have been warned against buying, selling or trading the token. Major Korean exchanges have also paused SAND deposits and withdrawals as a precaution.
The incident is another reminder that bridges remain one of crypto’s biggest attack surfaces. With The Sandbox preparing a pre-incident snapshot and compensation for qualifying liquidity providers, the next major focus will be the post-mortem and how quickly the team can restore confidence in the affected networks. $BNB
#BNBChain# #BNB #Macro Insights#