SAND Payouts Open as Cronos Recovers from August Exploit

The Sandbox has opened up compensation claims for users who lost SAND tokens in an August exploit. The move comes as the project aims to make users whole after a breach that saw around $697,000 worth of funds lost. The affected tokens were held on Base or BNB Smart Chain before the August 22 exploit.

Users can now file for a full 1:1 refund paid in SAND on Ethereum through the project's portal. Those who held the token on an exchange do not need to take any action. The post-mortem revealed that the attack was carried out by attackers who registered their own address as administrator and minted SAND against deposits that never happened.

Cronos, another project that suffered an exploit in August, seems to be recovering after halting block production to contain the attack. An attacker inflated the TONIC token around 100 times in 20 minutes before borrowing real assets against the fake value. The freeze worked, and only about $6 million out of the roughly $75 million exposed reached Ethereum.

Hardware wallet makers Ledger and Trezor are warning that the next wave of bugs is arriving faster than defenders can patch. They urge researchers to report vulnerabilities privately and settle on a fixed timeline first, citing 90 days as a common default.