The Sandbox Offers 1:1 Refund After $700K Bridge Exploit

The Sandbox has announced that it will reimburse users who lost tokens in a recent bridge exploit. On August 21, an attacker drained approximately $700,000 worth of Ethereum-based SAND from a bridge vault connected to Base and BNB Smart Chain.

The project stated that eligible holders of bridged SAND on Base or BNB Smart Chain will receive a 1:1 refund using Ethereum-based SAND. The repayment plan does not involve minting new tokens, and the funds will come directly from The Sandbox's treasury.

Around 72% of affected balances are held on centralized exchanges, which will distribute compensation to users directly. Those without exchange custody may need to submit a claim during the two-week window, but the exact process is still unclear.