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Meter Passport on BNB Chain Exploited, $2.3M in wMTRG Minted

AI Market Summary
Meter.io's Meter Passport on BNB Chain is reportedly under active exploit, with an attacker minting roughly $2.3M of unbacked wMTRG via cross-chain channels and selling some on PancakeSwap. The incident highlights bridge and wrapped-asset counterparty risk, potentially pressuring liquidity and increasing risk premia across BNB Chain DeFi venues involved in routing or pricing the affected token while monitoring and mitigation unfold.
Impact level
● Medium
Affected assets
BNB/USDT+2.53%
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.io's Meter Passport on BNB Chain is under active attack, according to Blockaid monitoring dated September 24. The attacker is minting unbacked wrapped MTRG (wMTRG) at scale through cross-chain channels and has already sold some of the tokens on PancakeSwap. So far, roughly $2.3 million worth of wMTRG has been minted across about two transactions, and the exploit remains ongoing.
Selected
BNB
BNB+2.50%
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