The Sandbox pledges 1:1 repayment after $700K bridge exploit
The Sandbox will repay eligible SAND holders 1:1 after an Aug. 21 bridge exploit drained about 14.744 million SAND, worth roughly $700,000, from an Ethereum vault. Users who held bridged SAND on Base or BNB Smart Chain before the attack will receive the same amount of Ethereum-based SAND, funded from the project’s treasury with no new token issuance. The claims window should open within two weeks and stay open for two more weeks. Two centralized exchanges hold most eligible balances and will handle compensation for affected customers directly. The exploit came from a configuration flaw in the Base and BNB Chain bridge contracts, which let the attacker become the sole verifier of bridge messages and mint unbacked tokens. The unbacked tokens on those networks have been isolated and cannot be bridged or redeemed. Ethereum and Polygon SAND were unaffected. The compromised bridge contracts will be retired and replaced if new bridges are launched.
