Blockaid: Meter Faces Ongoing BNB Chain Attack; $2.3M in Unbacked Wrapped MTRG Minted and Sold
AI Market Summary
Blockaid reports Meter is under continuous exploitation on BNB Chain, with attackers using Meter Passport to mint roughly $2.3M of unbacked wrapped MTRG and selling on PancakeSwap. Ongoing fraudulent minting and immediate market selling pressure can impair liquidity and pricing for affected tokens and elevate perceived smart-contract and bridge risk across BNB Chain DeFi venues, potentially tightening risk appetite in related on-chain markets.
Impact level
● Medium
Affected assets
BNB/USDT+1.50%
AI Insight · BNB/USDTAI Insight
▼ Bearish
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PANews, Sept. 24 — Blockaid monitoring indicates Meter is under a sustained attack on BNB Chain. The attacker is abusing Meter Passport to mint large amounts of wrapped MTRG and has been selling portions of the tokens on PancakeSwap. Blockaid estimates roughly $2.3 million worth of unbacked wrapped MTRG has been minted across about two mint transactions, and the exploit remains in progress.
