- The Sandbox experienced a cross-chain bridge exploit where an attacker minted billions of unbacked SAND tokens on Base and BNB Smart Chain, far exceeding the token's maximum supply.
- The exploit targeted LayerZero delegate permissions, allowing the creation of tokens without corresponding collateral, though the theoretical $49 billion value did not represent actual stolen funds due to low liquidity.
- The Sandbox has contained the vulnerability, disabled affected bridge routes, and is preparing compensation, while emphasizing that Ethereum and Polygon SAND remain unaffected and no user wallets were compromised.
Topics: Blockchain usage, Risk default, Scalability, Layer 2 scaling, Smart contract vulnerabilities, Market depth liquidity
Tags: #thesandbox #sandtoken #crosschainbridgeexploit #layerzero #basenetwork #bnbsmartchain #unbackedtokens #minting #securityvulnerability #blockchainsecurity
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