The Sandbox has announced a compensation plan for its vulnerability incident, with compensation provided at a 1:1 ratio using its treasury funds.
51 minutes ago
The Sandbox has released a post-mortem analysis report on its August 22 vulnerability incident. The report shows that attackers exploited a flaw in cross-chain configuration-related contracts on Base and BNB Smart Chain (BSC) to steal 14,742,341.84 SAND tokens from its Ethereum vault, accounting for approximately 0.5% of the total maximum supply. The estimated economic impact is around $1.4968 million, with roughly $987,000 actually retained by the attackers. The Ethereum mainnet and Polygon network were not affected. Until further notice, do not purchase or send SAND on Base or BNB Smart Chain. Contracts deployed on Base and BNB Smart Chain have been permanently disabled and will not be reopened. The Sandbox stated that its team has reported the attacker’s wallet addresses to blockchain analytics firms TRM Labs and Chainalysis, and has directly communicated with relevant exchanges. The project also announced a compensation plan: wallets that lawfully held cross-chain SAND on Base or BSC prior to the incident will be compensated at a 1:1 ratio in Ethereum-based SAND, with funds coming from The Sandbox’s vault (no new tokens will be minted). The claim process will open in the next two weeks and remain accessible for two weeks.
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