# Meter Exploit Mints About $2.3 Million In Unbacked Wrapped MTRG

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/23764
Published: 2026-09-24T14:36:39.000Z
Updated: 2026-09-24T14:36:39.000Z

An attacker exploited Meter Passport on BNB Chain to mint about $2.3 million worth of unbacked wrapped MTRG, with some of the tokens later sold on PancakeSwap.

Roughly two transactions were used to create the tokens. The minted MTRG was not backed by the underlying asset.

The activity was ongoing at the time of the detection. Meter Passport was the affected component, while PancakeSwap was used to sell part of the newly created supply.