Meter Hit by Ongoing BNB Chain Exploit; $2.3M in Wrapped MTRG Illegally Minted
AI Market Summary
Blockaid reports Meter is under an active exploit on BNB Chain, with attackers abusing Meter Passport to mint roughly $2.3M of unbacked wrapped MTRG and selling on PancakeSwap. The ongoing nature of the attack elevates near-term smart-contract and bridge risk perceptions across BNB Chain DeFi, potentially tightening liquidity and raising risk premia for venues and assets with exposure to the affected wrapped token flows.
Impact level
● Medium
Affected assets
BNB/USDT+1.50%
AI Insight · BNB/USDTAI Insight
▼ Bearish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Meter is facing an ongoing attack on BNB Chain, according to Blockaid monitoring cited by Odaily Planet Daily. The attacker is abusing Meter Passport to mint large amounts of wrapped MTRG, then offloading part of the tokens on PancakeSwap. Roughly $2.3 million worth of unauthorized wrapped MTRG has been minted across about two minting transactions, and the exploit remains in progress.
