security
The Sandbox halts bridges following SAND exploit
The Sandbox has suspended cross-chain bridges after discovering vulnerabilities in the SAND token infrastructure on Base and BNB Smart Chain, leading to the creation of unbacked tokens valued at up to $49 billion, though actual losses are believed to be minimal.
AS1 News
BNBSecurity firms identified the creation of approximately 14.9 billion unbacked SAND tokens across two addresses. Over 400 transactions were recorded, with a nominal value reaching $49 billion, but this does not necessarily reflect actual financial losses. The attack exploited delegate permissions to generate unbacked SAND tokens. In response, The Sandbox has temporarily halted bridges on affected networks. Additionally, exchanges Upbit, Bithumb, and KuCoin have suspended deposits and withdrawals of SAND. An investigation is underway, and measures are being planned to address the vulnerability.
The incident highlights vulnerabilities in cross-chain infrastructure, prompting immediate security measures and investigations.