The Sandbox commits to open 1:1 compensation plan in two weeks
The Sandbox users affected in the August 21 attack received positive news early today when the project committed to a 1:1 compensation plan to be paid out in the Ethereum version of SAND.
According to The Sandbox’s announcement, it will open a two-week compensation claim window within two weeks of its August 27 disclosure.
The compensation plan only covers token holders who provably held bridged SAND on Base and BNB Smart Chain (BSC) at the time of the exploit. Together, that group of holders lost roughly $697,000.
When will SAND holders receive compensation?
According to The Sandbox, affected users will have to wait at least one month to actually receive their compensation.
- The claim process will open within two weeks of August 27.
- The claim window will be open for another two weeks.
The refund will be sent as Ethereum-based SAND, with only holders of bridged SAND on Base and BSC at the time of the breach eligible.
Holders of the Ethereum version of SAND were completely spared in the incident, with the chain’s supply still at 3 billion tokens. Polygon-based SAND also did not have any exposure because it runs through a separate bridge.
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