The Sandbox: $4.9 billion of new tokens forged indefinitely because of security loopholes

The Sandbox's cross-chain contract was subjected to an unlimited casting attack on the Base network, resulting in nearly $49 billion in SAND coins being created in over 400 transactions. Despite this security gap, the price of SAND increased by about 4.76 per cent and the volume of transactions increased by more than 400 per cent. According to the report of the security company Blockaid, the attackers, by controlling Layer Zero's delegated authority, used "approveandcall" to circumvent normal control and cast unsupported SANDs. The attack is still ongoing, and The Sandbox team has identified and completely contained this loophole, indicating that it affects less than 0.01 per cent of the total supply。