Crypto
Sandbox Compensates SAND Holders After $700K Bridge Exploit
The Sandbox has promised to compensate SAND holders after a $700,000 bridge exploit on August 21. The attacker exploited a configuration flaw in SAND's Base and BNB Chain contracts, allowing them to mint unbacked tokens.
About 14.744 SAND were stolen from an Ethereum vault, worth around $700,000. Those who held bridged SAND on Base or BNB Smart Chain before the attack will receive an equal amount of Ethereum-based SAND.
The claims process is expected to open within two weeks and remain open for another two weeks. Centralized exchanges holding more than 72% of eligible balances will distribute compensation directly to their affected customers, according to The Sandbox.