The Sandbox to reimburse SAND holders after 14.7M token bridge exploit
The Sandbox has pledged to reimburse eligible SAND holders 1:1 after an Aug. 21 bridge exploit drained about 14.7 million tokens worth roughly $700,000 from an Ethereum vault. According to The Sandboxs Aug. 27 post-mortem, users who legitimately held bridged SAND on Base or BNB Smart Chain before the attack will receive an equivalent amount of Ethereum-based SAND. The project plans to cover the payments from its treasury without minting new tokens. Claims are expected to open within two weeks and remain available for another two weeks. Two centralized exchanges account for more than 72% of the eligible SAND balances, and The Sandbox said the exchanges will distribute replacement tokens directly to affected customers. The Sandbox will repay SAND holders from its treasury The repayment plan covers legitimate bridged SAND balances that existed on Base and BNB Smart Chain before the exploit. Eligible users will receive SAND issued on Ethereum, replacing the tokens affected by the compromised bridge infrastructure. The Sandbox said its treasury already holds the tokens required for the process, meaning the compensation will not increase SANDs circulating or maximum supply. Users who held eligible balances through the two centralized exchanges handling most of the affected tokens will not need to submit individual
