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Following
SAND Sandbox Bridge Vulnerability Incident
Key Points
Security agency PeckShield reported that attackers minted 14.9 billion SAND tokens out of thin air through two wallet addresses, with a nominal value of approximately US$718 million.
The Sandbox stated that the vulnerability only affected Base and BNB Smart Chain networks, while tokens on Ethereum and Polygon were not affected.
The project party confirmed that no user wallets were damaged in this incident.
Vulnerability details
Security agency PeckShield pointed out that attackers minted a total of 14.9 billion unsecured SAND tokens at two addresses, with the unauthorized tokens worth approximately $718 million.
Another security agency, Blockaid, said the incident involved The Sandbox deployed a full-chain homogenization token (OFT) on the Base network, which uses the Cross-chain Token Standard of LayerZero Infrastructure. Blockaid claimed that the attacker broke the OFT contract on the Base network and gained administrator rights, allowing him to create a new SAND. At the same time, Blockaid emphasized that LayerZero itself has not been compromised.
The Sandbox said it had identified and contained the vulnerability, adding: "The impact is very limited and only accounts for less than 0.01% of the total supply of SAND tokens." SAND tokens on Ethereum and Polygon are not affected.
Project parties warn users not to trade SAND on Base or BNB Smart Chain while affected liquidity is quarantined. Transfer and redemption functions have been suspended and eligible liquidity providers will be compensated after review.
Market Reaction and Background
After the announcement of the news, the SAND token price fell by about 5%, cutting the previous week's increase-the token's weekly increase exceeded 30%. The decline partially offset this week's rally.
This vulnerability attack further exacerbated the large losses in the cryptocurrency field this year. In the past 90 days, losses caused by vulnerability attacks have reached nearly US$400 million, while the cumulative annual losses have reached approximately US$1.6 billion.
Recent incidents have also affected hardware wallets including ColdCard and payment service providers such as Triple-A, while the report also pointed out that the cyber attack capabilities of artificial intelligence models are increasing. This trend provides a broader context for sandbox vulnerability incidents-with the popularity of tokenization, stablecoins, and artificial intelligence agents, the number of systems exposed to security risks is increasing.
