Hackers minted 19 million THEO tokens on the Base chain, cashing out approximately 1.76 million USD in ETH

According to monitoring by PeckShield, hackers minted 19 million THEO tokens on the Base chain, then exchanged them for 700.8 ETH (approximately 1.76 million USD), and transferred the ETH to the Ethereum mainnet via a cross-chain bridge.

As a result of this incident, the THEO token has fallen by 92% in the past 24 hours.