On the same day, BNB Chain staged two completely different dramas: on one side, there was a security crisis caused by the breach of a cross-chain bridge, and on the other, a trading incentive event kicked off with great fanfare. Meter Passport, a cross-chain component from Meter.io responsible for transferring assets between networks like BNB Chain, was exploited by attackers who abused minting permissions through the cross-chain channel, generating approximately 2.3 million USD equivalent of unsecured wMTRG through about two minting transactions. Some tokens have already been sold on PancakeSwap. Security agency Blockaid revealed that the attack state "is still ongoing," and as of now, there has been no technical detail or response plan provided by Meter.io verified by multiple sources. Almost simultaneously, U (United Stables) and Binance Wallet jointly announced the launch of a pPOLY trading competition on BNB Chain, with a total prize pool of 100,000 U, running from September 24, 2026, 14:00 UTC to October 8, 14:00 UTC. This event is positioned as an ecological incentive action to enhance participation in on-chain related assets and projects. The shadows of security and the heat of ecology are occurring in parallel on the same chain. Currently, there is no evidence indicating a direct causal relationship between the two, yet they constitute a crucial scene for observing how the BNB ecosystem seeks a balance between risk and growth.
Unsecured wMTRG Minted and Sold
In this parallel narrative of risk and growth, Meter Passport quickly became the security focus on BNB Chain. Security agency Blockaid detected that this component was subjected to ongoing attacks on BNB Chain, with attackers directly minting unsecured wMTRG using the cross-chain channel: currently, it is known that there were about two minting transactions, totaling around 2.3 million USD equivalent of wMTRG, without any underlying collateral assets locked and matched on the corresponding network. This means that the relevant tokens have been detached from the basic constraint that "cross-chain certificates should be supported by real assets" from the very beginning, pushing the trust logic originally encapsulated as on-chain assets to the edge of imbalance.
Even more shocking is that attackers did not stop at mere minting on paper but have already sold some wMTRG on the mainstream DEX PancakeSwap, cashing out and injecting unsecured tokens into a broader on-chain trading environment. Even without publicly available quantitative data yet, this selling action itself amplifies potential price volatility and trust crises: once the market begins to question the asset backing of wMTRG, doubts are likely to quickly spread to the overall security of the cross-chain bridge. Meanwhile, as of now, there has been no officially verified explanation of the cause or response plan from Meter.io. The information vacuum combined with unusual fund movement escalates this batch of unsecured wMTRG from a singular technical failure to a risk event that affects the entire chain's perceptions.
Cross-Chain Bridge Becomes a Vulnerability in the BNB Ecosystem Again
During this prolonged information void, this incident again brought the cross-chain bridge back to the center of the DeFi risk narrative. Meter Passport, which should be responsible for transferring assets between networks like BNB Chain, was instead used by attackers as a "production line" to mint unsecured encapsulated tokens directly via the cross-chain channel, rather than stealing existing assets. According to AiCoin data, this attack has involved around two minting transactions, totaling approximately 2.3 million USD equivalent of unsecured wMTRG, revealing a structural weakness in the design of the cross-chain bridge: once the authenticity verification of cross-chain messages is compromised, the backend minting rights are essentially opened up.
What is even more concerning is that security agency Blockaid has revealed and continues to monitor that the attack is still ongoing, indicating that the risk has not been fully severed, and potential problems may still be unexposed. For BNB Chain, this means not only dealing with specific losses and public relations pressure, but also answering a more difficult question at the level of ecological governance: what risk level should cross-chain assets be regarded as. Users and project parties must re-examine their cross-chain usage habits—how to evaluate the credibility of encapsulated tokens' backing, and how to understand the authority boundaries of bridging contracts within the entire capital flow path—this incident with Meter Passport has turned what were originally somewhat abstract questions into practical examinations before the participants in the BNB ecosystem.
pPOLY Trading Competition with a 100,000 U Prize Pool
On the same chain, while the cross-chain risk issues remain unresolved, another group of roles has provided a completely different narrative: according to the official announcement, U (United Stables) and Binance Wallet have jointly launched a trading competition themed around pPOLY as the asset on BNB Chain, running from September 24, 2026, 14:00 UTC to October 8, 14:00 UTC, with the main battlefield clearly set on BNB Chain. With a total prize pool of up to 100,000 U, such a magnitude of incentive over a continuous period of about 14 days directly reflects the project party's attention and investment in stimulating on-chain user trading activities.
From the activity positioning perspective, this is a typical ecological incentive trading competition, rather than a long-term adjustment concerning protocol parameters or security mechanisms. The selection of pPOLY as the sole theme asset, in itself, is an attempt to compete for attention and narrative space within the BNB ecosystem. Currently, pPOLY's contract address and specific competition details have not been verified by multiple sources, and the technical outline regarding this competition on-chain remains unclear. However, during this window period which overlaps significantly with the cross-chain attack, BNB Chain is simultaneously bearing the expectations of security issues and trading games from two completely different participants.
Busy Day on BNB Chain Under the Shadow of Security
On the same chain, a sustained cross-chain attack and a just-launched trading competition are occurring nearly simultaneously, tearing BNB Chain's narrative into two extremes. The Meter Passport cross-chain component from Meter.io was attacked on BNB Chain, with attackers minting around two transactions, totaling approximately 2.3 million USD equivalent of unsecured wMTRG, and some tokens having already been sold on PancakeSwap; this security incident has been disclosed and continuously monitored by Blockaid, with confirmation that the attack state has not ended. In the absence of multi-sourced verified official technical explanations, such risks easily suppress some users' willingness to utilize cross-chain channels and encapsulated assets, making "bridges" and "packaged assets" seem more like potential explosive points than convenient tools in the short term.
Almost at the same time, U (United Stables) and Binance Wallet jointly announced the launch of a pPOLY trading competition on BNB Chain, with a total prize pool of 100,000 U, running from September 24, 2026, 14:00 UTC to October 8, 14:00 UTC, positioned as an ecological incentive activity to enhance participation in on-chain related assets and projects. Both the attack and the trading competition revolve around on-chain assets and user behavior, yet they reflect two completely different expectations of risk and opportunity. Currently, there is also no evidence indicating a direct causal relationship between the two, and they can only be viewed as parallel signals occurring synchronously on the same chain. For observers, this day represents both BNB Chain's mid-term report on cross-chain and packaged asset security and its on-site experiment to maintain ecological heat through trading incentives, becoming a key window to observe whether this chain can maintain an effective balance between expansion and security governance.
Looking at the Next Steps for the BNB Ecosystem from This Day
The fact that Meter Passport encountered an attack on BNB Chain, with no declaration of complete resolution and no public disclosure of handling or repair plans, has placed the security shortcomings of cross-chain bridges and packaged assets on the table. The BNB ecosystem will have to increase investment in this area in the future, or it will be difficult to stabilize users' trust in on-chain assets. In parallel, the pPOLY trading competition, with a total prize pool of 100,000 U and an activity duration ending on October 8, 2026, 14:00 UTC, indicates that the project parties are still vying for user attention and on-chain discourse through trading incentives, and BNB Chain continues to follow the path of maintaining ecological activity through various collaborations and events in recent years. Moving forward, it is worth observing not only whether this competition can bring visible participation results at its conclusion, but also the speed and transparency of the official response to the Meter Passport attack, and whether users' overall perception of BNB Chain's security undergoes substantial changes after the event has developed; whether BNB Chain can strengthen the security shortcomings of cross-chain and packaged assets while maintaining ecological vitality will directly determine its long-term position and actual competitiveness in the public chain competition landscape in the next stage.
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