SAND Exploit Creates $49B in Fake Tokens Across Base and BSC

A significant security incident has occurred in The Sandbox's (SAND) cross-chain bridge infrastructure, linking SAND and BSC to Base. An attacker was able to mint SAND tokens without the supporting asset needed for bridged assets, resulting in over $49 billion in fake tokens being created across Base and BNB Smart Chain.

The Sandbox team has identified and contained the vulnerability, which represents less than 0.01% of the total SAND token supply. The affected networks are not yet bridged, while SAND on Ethereum and Polygon remains unaffected.

Traders have been warned not to purchase, sell, or trade SAND on either Base or BSC due to liquidity issues on those networks. An investigation is ongoing, with a detailed incident report and technical post-mortem to follow.