Cysic burns 7.2m CYS on BSC to offset unauthorised minting

The story so far: Cysic bridge exploit

Cysic's cross-chain bridge was attacked on 17 October, with 10 million CYS minted without authorisation on BNB Chain; the bridge was suspended and the receiving address blacklisted. Cysic has now burned 7.2 million CYS on BNB Smart Chain to offset the unauthorised issuance.

1. 18 Oct 202610:57 UTC

   Cysic says cross-chain bridge attacked, 10 million CYS minted on BNB Chain

   The Cysic Foundation says its cross-chain bridge was attacked on 17 October, with 10 million CYS minted without authorisation on BNB Chain at 12:31:38 UTC. It suspended the bridge, blacklisted the receiving address at 13:47:52 UTC and says no user assets were stolen.

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2. 22 Oct 202610:16 UTC

   Cysic offers 10% white-hat bounty to CYS attacker, sets 72-hour deadline

   Cysic has offered a settlement to the attacker who minted 10 million CYS tokens without authorisation: return 275.872 ETH to a Cysic Foundation address within 72 hours of the on-chain notice, about 90% of confirmed ETH proceeds, and keep about 30.652 ETH as a bounty. Cysic says it will seek law enforcement if the funds are not returned.

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3. 28 Oct 202613:27 UTC

   Cysic burns 7.2m CYS on BSC to offset unauthorised minting

   Cysic said it has burned 7,200,002 CYS on BNB Smart Chain to offset previously unauthorised token issuance. Both burn transactions were confirmed on-chain, permanently cutting the BSC supply to match the project's tokenomics.

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4. 28 Oct 202613:28 UTC

   Cysic burns 7.2m CYS on BNB Smart Chain after bridge incident

   Zero-knowledge proof computing network Cysic said it has burned 7.2 million CYS on BNB Smart Chain to offset unauthorised token issuance from a bridge security incident. Two burn transactions were confirmed on-chain, bringing supply back in line with its tokenomics.

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