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Tessera DAO Token Crashes After 99M TSR Minted and Sold
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
Security researchers reported that an exploiter minted 99 million TSR tokens and rapidly sold them on BNB Chain, causing the token’s price to fall by about 99%. The attacker allegedly exchanged the minted tokens for roughly $2.5 million in USDT, then bridged the funds to Ethereum. According to on-chain data, 1,285.5 ETH has already been moved through Tornado Cash, complicating tracking efforts. The incident matters because it highlights potential vulnerabilities in token minting controls. Investigators and the project team are expected to focus on tracing remaining funds and assessing the exploit’s root cause.
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