The Sandbox Tackles $700K Bridge Exploit With 1:1 Reimbursement Plan
The Sandbox has taken steps to mitigate losses from a recent bridge exploit that drained $700,000 worth of tokens. The incident occurred on August 21 and affected users who had bridged SAND tokens on Base and BNB Smart Chain.
According to the project's post-mortem, the attacker exploited a configuration flaw in the bridge-related contracts, allowing them to mint unbacked tokens. This resulted in 14.744 SAND being drained from an Ethereum vault, valued at approximately $700,000 at the time.
The Sandbox has committed to reimbursing eligible users with a 1:1 amount of Ethereum-based SAND, funded from their treasury without minting new tokens. The claims process is expected to begin within two weeks and remain open for an additional two-week window.