Over 500M SAND Minted in Suspected The Sandbox Security Breach; Upbit Issues Warning, Bithumb Suspends Transfers

Major metaverse project The Sandbox is suspected of suffering a serious security breach on Base, with an attacker reportedly gaining token minting permissions and being able to mint SAND arbitrarily. Onchain data shows that more than 500 million SAND have been minted so far, with the activity still ongoing.

The Sandbox is an Animoca Brands subsidiary and raised $93 million in a 2021 funding round. South Korea’s two largest crypto exchanges, Upbit and Bithumb, have both taken precautionary measures. Upbit issued a trading caution for SAND, while Bithumb temporarily suspended SAND deposits and withdrawals. Upbit said it identified signs of a potential security issue involving SAND on August 22 and warned users of heightened price volatility.

Over 500M SAND Minted in Suspected The Sandbox Security Breach; Upbit Issues Warning, Bithumb Suspends Transfers

Major metaverse project The Sandbox is suspected of suffering a serious security breach on Base, with an attacker reportedly gaining token minting permissions and being able to mint SAND arbitrarily. Onchain data shows that more than 500 million SAND have been minted so far, with the activity still ongoing.

The Sandbox is an Animoca Brands subsidiary and raised $93 million in a 2021 funding round. South Korea’s two largest crypto exchanges, Upbit and Bithumb, have both taken precautionary measures. Upbit issued a trading caution for SAND, while Bithumb temporarily suspended SAND deposits and withdrawals. Upbit said it identified signs of a potential security issue involving SAND on August 22 and warned users of heightened price volatility.

Source:https://twitter.com/wublockchain/status/2091009471854285128