Crypto
Sandbox Vows to Repay SAND Holders After $700K Bridge Exploit
The Sandbox has pledged to reimburse eligible SAND holders after an Aug. 21 bridge exploit drained about 14.7 million tokens worth roughly $700,000 from an Ethereum vault.
Compensation will come from The Sandbox treasury without minting new SAND, with claims expected to open within two weeks.
The attacker exploited a configuration flaw in the Base and BNB Chain contracts to mint more than 339 trillion unbacked SAND tokens. However, this unbacked supply has since been isolated and cannot be bridged back to Ethereum or redeemed against legitimate SAND reserves.