The Sandbox, a prominent metaverse platform, has committed to fully compensating its users affected by the recent exploit that occurred on August 21. The attack resulted in the theft of roughly 14.7 million SAND tokens, equivalent to about $700,000, representing 0.5% of the total supply of 3 billion tokens.
As part of the compensation plan, affected users who held SAND tokens on the Base or BNB Chain networks before the exploit will receive a 1:1 reimbursement in the Ethereum version of SAND, funded from the project’s treasury without creating additional tokens. This initiative will address more than 72% of the balances impacted by the incident. Users on the Ethereum and Polygon networks were unaffected and will not need to file claims. The application process for compensation is set to begin within two weeks, coinciding with the permanent disabling of the compromised bridge contracts for the affected chains.
