The Sandbox announced on Aug. 27 that it would repay eligible holders of bridged SAND on Base and BNB Chain at a 1:1 ratio in Ethereum-based SAND, after an Aug. 22 exploit drained 14,742,341.84 SAND from its Ethereum vault. The stolen amount represents approximately 0.5% of the fixed maximum supply of 3 billion tokens. The project will fund the repayments from its treasury without minting new tokens, and the unbacked tokens minted on the affected networks have been isolated and cannot be bridged to Ethereum. The compromised bridge contracts on Base and BNB Chain will be permanently retired, and the attacker’s wallet has been reported to TRM Labs and Chainalysis.
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