According to the cryptocurrency security firm PeckShield, the BNB Chain-based Tessera (TSR) token suffered an unauthorized minting hack, causing its price to plummet by approximately 99%.

The hacker unlawfully minted 99 million TSR on the BNB Chain and then dumped them onto the market. It was found that the TSR secured through this process was swapped for approximately 2.5 million USDT.

Subsequently, the hacker bridged the funds to the Ethereum network, and it has been reported that they ultimately laundered 1,285.5 ETH through the privacy tool Tornado Cash.