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The Sandbox to repay bridged SAND 1:1 after Base and BNB exploit

The project said the Aug. 22 incident drained 14,742,341.84 SAND from its Ethereum vault, about 0.5% of SAND’s 3 billion max supply.

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The Sandbox said it will repay eligible holders of bridged SAND on Base and BNB Chain on a 1:1 basis after an Aug. 22 exploit that drained 14,742,341.84 SAND from the project’s Ethereum vault, according to a post-mortem published Aug. 27 by The Defiant.

The repayment plan is intended to cover legitimately bridged balances recorded in a pre-incident snapshot, and The Sandbox said it will fund replacements from its treasury without minting any new SAND, leaving SAND’s fixed 3 billion maximum supply unchanged. The project also said two centralized exchanges hold more than 72% of eligible balances and are expected to distribute replacement tokens directly to affected customers.

For other qualifying holders, The Sandbox said a claims portal is expected to open within two weeks of the post-mortem and remain open for an additional two weeks. It added that the attacker minted unbacked tokens on Base and BNB Chain through a bridge configuration that allowed the attacker to register as the sole verifier of incoming bridge messages, while SAND on Ethereum and Polygon was unaffected.

The Sandbox said bridging on the affected networks remains disabled, the unbacked tokens minted on Base and BNB Chain are isolated and cannot be bridged to Ethereum or redeemed against the vault, and the compromised bridge contracts on those networks will be permanently retired. The project also said it reported the attacker wallet to TRM Labs and Chainalysis for stolen-funds tagging and worked with centralized exchanges to disable deposits and withdrawals on the affected networks.

Latest closeEthereum $2,423.87 ▼3.5%|BNB $686.40 ▼3.6%

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