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Security Alert: Meter Passport on BNB Chain Hit by Exploit, $2.3M in Unbacked wMTRG Minted

AI Market Summary
Blockaid reports Meter Passport on BNB Chain is being exploited via a cross-chain channel, allowing an attacker to mint unbacked wrapped tokens (wMTRG) and sell some on PancakeSwap. About $2.3M has been minted across roughly two transactions and the exploit is ongoing. This raises immediate counterparty and bridge risk concerns for BNB Chain DeFi liquidity and can pressure risk appetite across related protocols.
Impact level
● Medium
Affected assets
BNB/USDT+1.47%
AI Insight · BNB/USDTAI Insight
▼ Bearish
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⚠️ 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 Passport on BNB Chain is under attack, according to Blockaid monitoring cited by Huo Xing Finance on Sept. 24. The attacker reportedly abused a cross-chain channel to mint a large amount of unbacked wrapped tokens, wMTRG, and has already sold some of the tokens on PancakeSwap. So far, about $2.3 million worth of wMTRG has been minted across roughly two transactions, and the exploit remains ongoing.
Selected
BNB
BNB+1.47%
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