Odaily News - The Sandbox has launched a SAND compensation claim page for the August 22 cross-chain bridge attack on Base and BNB Chain, with a claim window from September 8 to 22. All wallets that legitimately held bridged SAND prior to the attack are eligible for 1:1 SAND compensation on Ethereum, with no forms or documentation required—only a transaction initiated from the holding wallet. Users holding SAND on centralized exchanges need not take any action, as the team is coordinating with the relevant exchanges. Users who miss the September 22 deadline can contact the team before the end of October to individually process their claims. The team reminds users to stay vigilant, stating they will never send private messages or ask users to approve tokens, sign off-chain messages, or transfer funds.

According to Odaily, on September 3, data from SoSoValue showed that after several consecutive days of consolidation, the crypto market saw a modest rebound, with the GameFi sector performing strongly and rising 8.87% over the past 24 hours. Among them, Akedo (AKE) surged 82.95%, while The Sandbox (SAND) rose 4.65%. Meanwhile, Bitcoin (BTC) gained 0.65%, breaking above $77,000; however, Ethereum (ETH) fell 0.26%, remaining below the $2,400 mark.In other sectors, the Layer 2 sector rose 4.48% over the past 24 hours, with Arbitrum (ARB) up 12.97%; the AI sector gained 2.96%, with Kite (KITE) up 13.68%; the Meme sector climbed 2.20%, with Pons (PONS) up 27.88%; the PayFi sector advanced 1.55%, with Telcoin (TEL) up 4.06%; the Layer 1 sector edged up 1.17%, with Aptos (APT) up 8.36%; and the CeFi sector rose 0.87%, with Aster (ASTER) up 5.07%.Additionally, the DeFi sector dipped 0.05%, while Lighter (LIT) surged 14.31% to hit an all-time high.The crypto sector indices tracking historical performance showed that the ssiLayer2, ssiDePIN, and ssiSocialFi indices rose 5.24%, 3.83%, and 2.72%, respectively.

1. A suspected insider address recently traded FRIEND, gaining $46,000 in profit with a return rate of nearly 10x;2. Chainlink's strategic reserve holds 5.67 million LINK, worth $66.44 million;3. Holding 43,000 BTC valued at $3.48 billion, Metaplanet deposits another 1,350 BTC into Coinbase Prime;4. The Sandbox plans 1:1 compensation, with approximately $700,000 in SAND stolen due to a bridge vulnerability;5. Analysts: Waller's speech faces four key communication goals;6. Binance Futures launches 5 USDT-margined perpetual trading pairs including TEM, with maximum leverage of 20x;7. Market news: Anthropic plans to publish its IPO prospectus after the U.S. Labor Day (September 7);8. A bit-affiliated entity that previously profited $55.095 million opens a long position of $49.98 million in ETH, ranking among Hyperliquid's top 7 ETH positions;9. Morgan Stanley raises Marvell's price target from $224 to $246;10. U.S. storage stocks decline across the board in pre-market trading, with Sandisk (SNDK.O) falling over 2%.

Odaily reported that blockchain gaming platform The Sandbox has announced it will compensate users who held bridged SAND on Base or BNB Smart Chain prior to the August 21 bridge vulnerability exploit at a 1:1 ratio. The compensation will be paid using Ethereum-based SAND from the project treasury, with no new tokens being minted.The attack resulted in approximately 14.744 million SAND being stolen from the Ethereum treasury, valued at around $700,000. The claims process is expected to open within two weeks and will last for two weeks; two centralized exchanges holding over 72% of eligible balances will directly distribute compensation to affected customers.The Sandbox stated that the attacker exploited a configuration vulnerability in SAND contracts on Base and BNB Chain, becoming the sole validator of bridge messages and minting unbacked tokens. Additionally, over 339 trillion unbacked SAND tokens were minted across the two networks, but these have been quarantined and cannot be bridged or exchanged. SAND on Ethereum and Polygon was unaffected, and the compromised bridge contracts will be permanently decommissioned. (Cointelegraph)

1. Ansem: Currently more bullish on Meme coins than ever before, as they are essentially attention-driven trades;2. ETF Store President: The crypto market has continued to develop despite repeated skepticism, and construction has not halted due to price fluctuations;3. Sun Yuchen's attorney: A civil lawsuit has been filed against Jing and his parents as defendants, and the case has been formally registered in accordance with the law;4. Alphabet's market cap has evaporated nearly $700 billion from its peak, as its AI advantage faces scrutiny;5. Fed's Schmid: The midterm elections will not affect the Federal Reserve's October meeting decision;6. Solana treasury company DeFi Dev has resumed purchasing SOL, increasing its holdings to 2.33 million tokens;7. Polymarket expands sports data partnerships, integrating Sportradar's official data feed to enhance real-time prediction market accuracy;8. RQD Clearing completes $74 million funding round, led by Bain Capital;9. Trump Media abandons Truth Predict, pivoting to partner with Crypto.com to promote prediction market products;10. Coinbase unveils its AiFi vision: x402 has processed over 205 million transactions, with trading volume reaching $53 million;11. The Sandbox: Compensation claim process is expected to open within two weeks, with payouts based on the on-chain snapshot taken prior to the attack.

Odaily News: The Sandbox has issued an update on the security vulnerability attack on the SAND cross-chain bridge, stating that attackers modified the verification mechanism and forged cross-chain deposit messages to mint unbacked SAND. The incident resulted in approximately 14.7423 million SAND being withdrawn, worth approximately $697,000. Additionally, some unbacked SAND was profited from through market trading, bringing the overall economic impact to approximately $1.497 million, of which the attacker actually obtained approximately $987,000.For affected users, The Sandbox has committed to compensating wallets holding legitimate bridged SAND with SAND on the Ethereum chain at a 1:1 ratio, based on the on-chain snapshot taken before the attack. The compensation claim process is expected to open within two weeks and will remain open for two weeks.The Sandbox stated that the attack did not affect the SAND supply on Ethereum or Polygon, with the total Ethereum SAND supply remaining unchanged at 3 billion tokens. No super admin privileges were compromised either. The attack stemmed from a vulnerability arising from the combination of a universal call function in the token contract and the bridge permission design. Currently, the relevant addresses have been flagged, and collaboration has been initiated with exchanges, security agencies, and the LayerZero team.

Odaily News, The Sandbox has released a post-mortem report on the August 22 vulnerability incident. The report shows that attackers exploited vulnerabilities in contracts related to cross-chain configurations on Base and BNB Smart Chain (BSC), stealing 14,742,341.84 SAND from the Ethereum treasury, accounting for approximately 0.5% of the maximum supply, with an estimated economic impact of approximately $1.4968 million, of which about $987,000 was actually retained by the attackers. The Ethereum mainnet and Polygon network were not affected. Until further notice, please do not purchase or send SAND on Base or BNB Smart Chain. Contracts deployed on Base and BNB Smart Chain have been permanently deactivated and will not be reopened. The Sandbox stated that the team has reported the attacker's wallet address to blockchain analysis firms TRM Labs and Chainalysis, and has communicated directly with relevant exchanges. The Sandbox also announced a compensation plan, which will compensate wallets that legitimately held cross-chain SAND on Base or BSC prior to the incident at a 1:1 ratio in Ethereum SAND. Compensation funds will come from The Sandbox treasury, with no new tokens issued. The claim process will open within the next two weeks and remain open for two weeks.

Odaily News: Upbit has designated The Sandbox's SAND token as a trading caution item, and deposit and withdrawal services have been suspended. On August 22, The Sandbox confirmed a vulnerability in the SAND cross-chain bridge, affecting the Base and BSC networks. The official team has suspended cross-chain functionality.

Odaily News: Metaverse gaming platform The Sandbox has confirmed a vulnerability in its cross-chain bridge, allowing attackers to mint unbacked SAND on Base and BNB Smart Chain. Blockchain security firm PeckShield detected on August 21 that two addresses had collectively minted approximately 14.9 billion SAND. The Sandbox subsequently shut down bridging functionality on both networks.The Sandbox stated that the affected assets are bridged assets on Base and BNB Smart Chain, while SAND on Ethereum and Polygon, user wallet assets, and the Ethereum-locked assets backing the token remain unaffected. The proportion of genuinely collateralized assets involved in this incident is less than 0.01% of the total SAND supply.The Sandbox is developing a compensation plan for affected liquidity providers and advises users not to trade SAND on Base or BNB Smart Chain until bridging is restored. Coinbase plans to delist 10 perpetual futures contracts, including SAND, on August 26, with open positions to be automatically settled at that time. (Bitcoin.com News)

1. Arthur Hayes: Flop Labs has not yet issued a token, and there is currently no presale or Meme coin;2. The Sandbox confirms a SAND cross-chain bridge vulnerability, with cross-chain functionality on the Base and BSC networks temporarily suspended;3. Unrealized losses narrow to $5.408 billion, Bitmine holds 5,815,164 ETH;4. Stanley Druckenmiller spends $87.8 million to buy shares in Bitdeer and Hyperliquid Strategies;5. Loss of $3.46 million: Binance futures live account "韭韭金" closes out 250 BTC short positions;6. Crypto exchange trading revenue share declines as Coinbase and others double down on stablecoins and prediction markets;7. A whale sells 7,700 BTC within 3 days, valued at $577 million.