Odaily Planet Daily reports that The Sandbox, a metaverse gaming platform, has confirmed a vulnerability in its cross-chain bridge, allowing attackers to issue uncollateralized SAND on Base and BNB Smart Chain. Blockchain security firm PeckShield discovered on August 21 that two addresses had cumulatively issued approximately 14.9 billion SAND. The Sandbox subsequently disabled bridging functionality on both networks. The Sandbox stated that the affected assets were bridged assets on Base and BNB Smart Chain; SAND on Ethereum and Polygon, user wallet assets, and Ethereum locked assets used to back the token were unaffected. The proportion of real collateral 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 functionality is restored. Coinbase plans to delist 10 perpetual futures contracts, including SAND, on August 26, at which time open positions will be automatically settled. (Bitcoin.com News)

According to Onchain Lens monitoring, as reported by Odaily Planet Daily, "Machi Dage" (0x020...872) holds 28,450 ETH long positions, valued at $68.56 million, with an unrealized profit of $1.49 million. Previously, Machi Dage underwent multiple liquidations and sold NFTs and other spot assets to continue funding his trading. He subsequently established new long positions in HYPE and PUMP, with the HYPE long position losing $117,600 in 11 hours and the PUMP long position losing $158,600 in 2 hours. Machi Dage's profit over the past 30 days is $7.81 million, with a cumulative loss of $28.04 million.

According to Odaily Planet Daily, CryptoQuant analyst Darkfost published an article on the X platform stating that the altcoin market has recently shown clear signs of recovery, with a changing market structure, and the "altseason" may have entered its early stages. Data shows that from August 19th to 22nd, the total market capitalization of altcoins increased by approximately $215 billion, a surge of over 24% in just three days, pushing the total market capitalization of altcoins back above $1 trillion. Darkfost pointed out that small and mid-cap altcoins performed the strongest in this rally. Due to their lower circulating market capitalization, these assets are more sensitive to capital inflows and also have higher two-way volatility risks. Data from Binance further strengthens the signs of altcoin market recovery. Since last November, approximately 80% to 85% of altcoins have been trading below their 200-day moving average (200-DMA), while currently 56% of Binance-listed altcoins have risen above this key technical indicator, suggesting the market may be entering a new cycle. Darkfost believes this trend reversal is related to several positive signals regarding cryptocurrencies recently released by Trump. On August 19th, Trump stated that the US would "buy Bitcoin on a large scale" and urged Congress to pass the Clarity Act, while also declaring that his administration had ended its previous unfriendly policies towards the crypto industry. These remarks boosted market sentiment, and against the backdrop of low trading volume and reduced selling pressure, a large amount of capital began flowing into the altcoin market, driving a simultaneous rise in multiple sectors. Darkfost stated that, historically, the current widespread increase in altcoins is often seen as an important signal of the early start of an altcoin season. However, he also cautioned that the market has entered overbought territory in the short term, and investors should be wary of a potential correction. If the overall upward momentum continues, new investment opportunities may still emerge.