SAND Token Slumps Amid Allegations of Unlimited Minting Vulnerability

The SAND token, native to The Sandbox ecosystem, saw significant price drops due to claims of an unlimited token minting vulnerability. Initial reports indicate that an attacker accessed the SAND minting capabilities and potentially created millions of new tokens.

According to circulating social media claims, over 500 million new SAND tokens were created using a security vulnerability. If confirmed, this would be a severe security breach directly impacting the token supply.

The market responded swiftly to the allegations, with the SAND price plummeting by around 5.5% in a short time and trading volume reaching approximately 24 times its normal levels. Open interest (OI) in futures increased by about 16% within an hour, indicating high participation in the price movement.