Cysic halted its bridge after an unauthorized mint of 10M $CYS. Unbacked supply is the worst kind of dilution, and bridge trust reprices before the token does. Assume the minted coins are already in t

What happened: Cysic suspended its cross-chain bridge after an attacker exploited a processing flaw to mint 10 million CYS on BNB Smart Chain. Preliminary findings point to unauthorized access to a database supporting the bridge. Key numbers: 10 million CYS minted on Saturday at 12:31:38 Why it matters: Cysic said the incident was limited to bridge message processing and minting, did not affect the mainnet or other systems, and did not involve theft of existing CYS or user wallet assets. The company said the mint size alone does not establish the dollar impact and has hired a security firm.

Cysic suspended its cross-chain bridge after an attacker exploited a processing flaw to mint 10 million CYS on BNB Smart Chain. Preliminary findings point to unauthorized access to a database supporting the bridge.

Cysic said the incident was limited to bridge message processing and minting, did not affect the mainnet or other systems, and did not involve theft of existing CYS or user wallet assets. The company said the mint size alone does not establish the dollar impact and has hired a security firm.