The Sandbox cross-linking system for SAND under the flag has increased exceptionally in the Base network. According to the chain security agencies, the attackers used the relevant authority to forge a new token without full collateral, and the subsequent incident affected BNB Smart Chain. The project party indicated that the gap had been repaired and that the bridge on the two chains had been suspended.

An abnormal increase occurred in the OFT contract.

The security company Blockaid stated that the attackers controlled the LayerZero delegation of authority related to the SAND OFT system and created an assetless SAND through the ApproveAndCall bypassing the conventional restrictions.

Chain-based monitoring shows that over 400 transactions have occurred through abnormal casting. Peck Shield has discovered that at one time approximately 14.9 billion SANDs appeared at two of the addresses associated with the attack. Another monitoring caliber is estimated at market value, with the nominal value of the unusual generation of tokens approaching $49 billion.

However, this figure does not equal the actual profits of the attackers. The reason for this is that there is no equivalent collateral for these tokens, and if they are sold centrally, the price itself will be rapidly under pressure.

Actual loss was much smaller than nominal

The actual losses currently disclosed are mainly from the OFT adapter on the Ether side. According to the report, about 147.5 million SANDs had been displaced from the adaptor, approximately $6.75 million at the time of the incident, some of which had been converted to approximately 79.74 ETHs.

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Project side paused Base and BSC bridge

The Sandbox then stated on platform X that the safety issues affecting SAND cross-chain bridges had been repaired, that the affected networks were Base and BSC, and that the Taipei and Polygon were not affected.

According to the project party, no user wallet was invaded and SAND, which was locked on the Ether factory, remained safe. The attackers formed SAND without collateral on Base and BSC, so the team stopped the bridge operation on both chains.

At the same time, the team is conducting a snapshot based on the state of the chain prior to the attack and is planning to compensate eligible liquidity providers. The projector also reminds the user not to trade or trade SAND on Base or BSC for the time being.

The money didn't fall with the events.

Although the security incident is still fermenting, the SAND price did not fall at the time the report was published, but increased by about 4.76 per cent to 0.0476 dollars, or by more than 400 per cent.

This means that market transactions are more organized around short-term fluctuations, but the moratoria and subsequent clean-up progress will still affect the rate of recovery of the related liquidity on Base and BSC.