Summary
Grand Base was a decentralized real-world asset (RWA) synthetic trading protocol launched on Coinbase's Base layer-2 blockchain in early 2024. On April 15, 2024, the protocol suffered a critical security incident in which its deployer wallet was compromised, allowing an attacker to mint approximately 32.5 million unauthorized GB tokens and drain roughly $2 million in liquidity. The GB token subsequently lost over 99% of its value; no verified recovery or compensation plan has been confirmed, and the project's long-term operational status remains uncertain.
Connected Entities
1 entitiesTimeline(8 events)
2023-12-08
Grand Base publishes community update on token distribution, delaying team token vesting and revising minting schedule from 10 million to 3.9 million GB tokens.
2024-01-01
Grand Base opens testnet on Base chain per roadmap, with full mainnet launch targeted for Q1 2024.
2024-04-15
At approximately 03:01 AM UTC, the Grand Base deployer wallet is compromised. The attacker mints approximately 32.5 million unauthorized GB tokens and executes over 600 swaps on Aerodrome to convert them to ETH, draining approximately $2 million in liquidity.
2024-04-15
Community member @0xkinnif flags the suspicious minting activity on social media. PeckShield and CertiK issue security alerts. The Grand Base Telegram admin warns users not to interact with the token contract.
2024-04-15
Approximately 6 hours after community alerts, Grand Base posts an announcement on X acknowledging the exploit, attributing it to a hacked developer PC compromising the LP wallet.
2024-04-15
Stolen ETH is bridged from Base chain to Ethereum mainnet and distributed across six known attacker wallet addresses. Approximately 808.57 ETH (~$2.49M) is consolidated in an EOA.
2024-04-15
Grand Base states it is in contact with CEX security teams including MEXC to freeze attacker funds and prevent off-ramping. A relaunch with audited contracts and retroactive airdrops is promised.
2024-04-15
GB token loses over 99% of its value, falling to approximately $0.0049. Protocol liquidity pools are effectively emptied.
Decision Log
- hash: 2dzDSsENe91R6NLuodSvj9QZmGjEpLceTqxAtVMnV1Vz
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:33 AM
last updated: 5/28/2026, 5:24:13 AM
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