Altcoin Crashes 92% Following Exploit as Millions of Minted Tokens Are Converted to Ethereum
Key Highlights A bad actor unauthorizedly generated 19 million THEO tokens on the Base layer-2 network. The exploiter dumped the newly minted tokens for 700.8 ETH, valued at roughly $1.76 million, and bridged the funds to the Ethereum mainnet. The unauthorized token creation and subsequent sell-off triggered an immediate 92% crash in THEO’s market price. ...