Sandbox token minting bug lets attacker create 500M+ SAND
Security & Exploits ·
South Korean exchanges halt SAND trading after unauthorized minting activity surfaces on Base network.
The Sandbox, a metaverse platform under Animoca Brands, is facing a suspected exploit on Base that has allowed an unidentified actor to mint SAND tokens without authorization, according to a report from wublockchain.xyz. Blockchain records indicate the minting has already surpassed 500 million tokens, and the activity had not stopped as of the latest checks.
The breach appears rooted in a compromise of minting controls on the token contract, effectively letting the attacker generate SAND at will rather than through legitimate supply mechanisms. The Sandbox previously secured $93 million during a funding round in 2021, underscoring its standing as one of the more established projects in the metaverse sector prior to this incident.
In response, Upbit and Bithumb — the two largest cryptocurrency exchanges in South Korea — moved to suspend deposits and withdrawals for SAND. Upbit stated it detected indicators of a possible security problem tied to SAND on August 22 and cautioned users to expect sharp price swings. Bithumb separately issued a notice to users and confirmed it had paused SAND transfers, a step documented in the exchange's own notice.
Multiple reports converged on the same core details: an attacker obtaining mint permissions, the token count crossing the 500 million threshold, and no official statement yet issued by The Sandbox team addressing the cause or scope of the breach. The absence of a public response has left questions open about whether the vulnerability has been patched or whether minting is still active.
Unresolved at this stage are the exact mechanism the attacker used to gain minting rights, the total value at risk given the scale of new tokens entering circulation, and whether other exchanges beyond Upbit and Bithumb will follow with similar suspensions. The Sandbox has not confirmed the incident or outlined remediation steps, and it remains unclear how the additional supply will be treated once trading resumes.