Cysic halts crypto bridge after unauthorized mint of 10M CYS

what happened

Cointelegraph reports that Cysic is looking into an unauthorized token issuance on BNB Smart Chain. In an incident report posted on X on Sunday, the company said an attacker abused a processing flaw in its cross-chain bridge on Saturday and minted 10 million CYS, after which the bridge was suspended. Preliminary findings point to unauthorized access to a database that supports the bridge.

The mint took place at 12:31:38 UTC. Later, at 13:47:52 UTC, the recipient address was added to the token contract's blacklist. About 2.8 million CYS still sit there, and transfers from that address are blocked. Cysic stressed that its mainnet and other operational systems were not affected and that no existing CYS or other assets in user wallets were stolen or moved. The company also noted that the minted amount alone does not reveal the final dollar loss, which is still being assessed.

why it matters

CYS is the token used to reward users, compute suppliers, governance participants and contributors across Cysic's network, according to its tokenomics documentation. A sudden issuance of 10 million tokens raises questions about supply and confidence in the asset, and it is a reminder of how exposed cross-chain bridges can be.

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