Tessera DAO Token Crashes After 99M TSR Minted and Sold

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.