We’re preparing a full update on the actions taken by the Sonic security team in response to the recent @Beets_Fi exploit, along with our next steps.
Thank you for your patience.
The balancer hacker 0xf19fd5c683a958ce9210948858b80d433f6bfae2 (whose $S and address was frozen by @soniclabs) transferred 19M $Sts to 0x0e9c9473D0c504Da72763426719F6f03A15544D5
Sold them all on @KyberNetwork in batches to USDC and then used @lifiprotocol to bridge out @USDC .
Why did it happen?
The initial address 0xf19fd5c683a958ce9210948858b80d433f6bfae2 was maked 0 for S holdings and the address was frozen with 19M $Sts tokens.
Update:
Used permit2 , offchain approval mechanism which allowed them to approve move the ERC20 tokens to a fresh unfrozen wallet which they could then unload from and bridge out to ETH
So, it seems the hacker stopped being a dumb and “managed” to move unfrozen assets to another wallet and dumped stS to oblivion for a brief moment.
All $S tokens have been sold and it explains the sudden momentum stop after a strong couple of days.
My opinion is that @SonicLabs did its part by freezing / setting hackers’ S balance to 0 to prevent more damage, but it was just a partial move since stS is not their asset and it even may not have the function to freeze someone’s tokens.
It is what it is. However since the damage is already done, let’s move on and build up the momentum back from here
At approximately 3:45 AM EST on November 3rd, 2025, the Sonic security team was notified of suspicious activity involving a potential exploit on the @Beets_Fi protocol.
As a precautionary measure, the team deployed a safety mechanism planned to be implemented in an upcoming network upgrade.
The following wallets have been frozen pending further investigation. We will be in close coordination with the Beets team moving forward.
• https://t.co/dnYyA43cUg
• https://t.co/xKC6OQuQxc
Pharaoh V3 is a new awakening.
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$328M in Hong Kong-listed shares are now tokenized on Sonic.
Fosun Wealth launched Sisram Medical stock on four chains, including Sonic, amid rising RWA adoption.
As Fosun scales its tokenization, Sonic stands as the preferred settlement layer for the future of finance.
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