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BNB $708.47 +0.85%
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TRX $0.3385 +1.03%
DOGE $0.0878 +1.00%
ADA $0.2097 +0.43%
BCH $264.33 -1.01%
LINK $11.73 +1.85%
HYPE $83.53 +3.13%
AAVE $126.06 +0.58%
SUI $0.7622 +1.80%
XLM $0.1842 +0.62%
ZEC $785.94 +0.23%

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The Sandbox: Compensation will be carried out based on the on-chain snapshot before the attack, and the compensation application process is expected to open within two weeks

The Sandbox released an update on the security vulnerability attack incident involving the SAND cross-chain bridge, stating that the attacker modified the verification mechanism to forge cross-chain deposit messages and mint unbacked SAND. This incident resulted in approximately 14.7423 million SAND being withdrawn, valued at about $697,000. Additionally, some uncollateralized SAND was profited through market trading, leading to an overall economic impact of approximately $1.497 million, of which the attacker actually obtained about $987,000.The Sandbox stated that the attack did not affect the supply of SAND on Ethereum and Polygon, with the total amount of SAND on Ethereum remaining unchanged at 3 billion. There were also no super administrator privileges stolen, and the attack stemmed from a vulnerability caused by the combination of the general call function in the token contract and the design of bridge permissions. Currently, the related addresses have been marked, and collaboration has begun with exchanges, security agencies, and the LayerZero team.For affected users, The Sandbox promises to compensate wallets holding legitimate bridged SAND with a 1:1 ratio of SAND on the Ethereum chain based on an on-chain snapshot taken before the attack. The compensation application process is expected to open within two weeks and will last for two weeks.

hot_img U.S. Senator demands that Waller disclose his conversations with Trump, questioning the transparency of the Federal Reserve

Nick Timiraos, the chief economic reporter for The Wall Street Journal and known as the "mouthpiece of the Federal Reserve," recently wrote that Federal Reserve Chairman Kevin Warsh is facing intense scrutiny from Congress. On Wednesday local time, four members of the Senate Banking Committee, led by Senator Chris Van Hollen, jointly sent a letter to Warsh, demanding that he publicly disclose all communication details with President Donald Trump.Earlier reports indicated that Warsh had maintained frequent phone contact with Trump since taking office, but the publicly available schedule from the Federal Reserve does not record any related calls during Warsh's early days in office. Lawmakers believe that this "selective transparency" could raise concerns about government interference in monetary policy.Kevin Hassett, the director of the White House Council of Economic Advisers, previously stated that Warsh has long engaged in economic discussions with Trump but claimed that Trump would not pressure the Federal Reserve. Trump later denied the related reports, stating that he had only had a brief conversation with Warsh a few days prior.Currently, the Federal Reserve has stated that it will continue to delay the disclosure of the chairman's schedule according to established rules. The market is watching to see if Warsh will provide additional information and whether this matter will affect public confidence in the independence of the Federal Reserve.
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