Cysic crypto bridge halted after unauthorized mint of 10M CYS

Cysic is investigating an unauthorized issuance on BNB Smart Chain and said the mint size alone does not establish the incident’s dollar impact.

The mint occurred at 12:31:38 UTC, and Cysic added the recipient address to the token contract’s blacklist at 13:47:52 UTC. About 2.8 million CYS remained at that address, with transfers restricted.

CYS coordinates incentives for users, compute providers, governance participants and contributors in Cysic’s network, according to the project’s tokenomics documentation.

Cysic said the incident was limited to bridge message processing and minting and did not affect the mainnet or other operational systems. “The incident did not result in the theft or unauthorized transfer of existing CYS or other assets held in user wallets,” it said.

The company said the number minted does not establish the final dollar loss; token transfers, swaps and actual losses remain under review. Cysic has hired a security firm and plans to publish a follow-up report after the current investigation phase.