SAND Bridge Exploit Mints $49 Billion in Fake Tokens Across Base and BSC

The Sandbox (SAND) has suffered a major security incident due to a bug in its cross-chain bridge infrastructure. The bug allowed an attacker to mint unbacked SAND tokens on Base and BNB Smart Chain, resulting in the creation of approximately $49 billion worth of fake tokens.

This figure represents over 400 transactions and is considered a significant cross-chain security incident. The affected networks are not yet bridged, while SAND on Ethereum and Polygon remains unaffected.

The Sandbox team has identified and contained the vulnerability, but users have been warned not to purchase or trade SAND on Base or BSC due to the liquidity issues on those networks. A compensation plan is being prepared for eligible liquidity providers, with a snapshot of the ecosystem taken prior to the incident.