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Cysic suspends crypto bridge following unauthorized 10 million CYS mint

Cysic halted its cross-chain bridge after an attacker exploited a vulnerability on BNB Chain to mint 10 million unbacked CYS tokens and transfer roughly $727,000 to Ethereum.

Cysic logo displayed against an abstract dark and reddish-purple wave background.
Image: @TheBlockCo

Cross-chain protocol Cysic halted its bridge operations after an attacker exploited a bridge vulnerability on BNB Chain to mint 10 million unauthorized CYS tokens.[1][2][3]

According to The Block, the attacker minted the unbacked tokens on Saturday, sold 7.2 million of them, and routed about $727,000 in proceeds to Ethereum. The funds were transferred across multiple bridging services, including Mayan, deBridge, and SWFT's Bridgers, before Cysic intervened and froze the attacker's wallet address.[5][6]

Roughly 2.8 million CYS tokens remain frozen in the attacker's wallet. Cysic stated that the breach was strictly confined to bridge message processing and minting, noting that the network's mainnet and other operational infrastructure were not impacted. The team has since opened an investigation into the hack.[1][3][4][6]

Key facts

  • Cysic halted its crypto bridge after an attacker minted 10 million unauthorized CYS tokens on BNB Chain.
  • Cysic said the incident was limited to bridge message processing and minting, leaving the mainnet and other systems unaffected.
  • The attacker sold 7.2 million of the unbacked CYS tokens and moved about $727,000 in proceeds to Ethereum.
  • Proceeds were bridged to Ethereum using Mayan, deBridge, and SWFT's Bridgers.
  • Cysic froze the attacker's wallet, keeping roughly 2.8 million CYS tokens frozen, and initiated an investigation.

Sources · 6 sources

  1. CN

    crypto.news@cryptodotnewsPost on X ·

    JUST IN: Cysic suspends bridge after attacker mints 10M base:0x19e8d59ff3d7a31289e0dc04db48d43b02c7ffa6 on BNB Chain The exploit targeted a bridge vulnerability, with roughly 2.8M base:0x19e8d59ff3d7a31289e0dc04db48d43b02c7ffa6 still frozen in the attacker’s wallet as the protocol halts operations.

    Open source
  2. CB

    Crypto BriefingArticle ·

    Cysic halts crypto bridge after unauthorized mint of 10M CYS The incident highlights the critical need for robust security in crypto bridges, affecting token value and user trust in cross-chain systems. The post Cysic halts crypto bridge after unauthorized mint of 10M CYS appeared first on Crypto Briefing .

    Open source
  3. CO

    Cointelegraph@CointelegraphPost on X ·

    🚨 REKT: Cysic halted its bridge after an attacker exploited a flaw to mint 10M CYS on BNB Chain, with about 2.8M still frozen in the hacker's wallet. What's the real damage? https://t.co/bgIlf4CS0d

    Open source
  4. CT

    Coin TelegraphArticle ·

    Cysic crypto bridge halted after unauthorized mint of 10M CYS Cysic said the incident was limited to bridge message processing and minting and did not affect the mainnet or other operational systems.

    Open source
  5. TB

    The BlockArticle ·

    Cysic suspends bridge after attacker mints tokens and moves $727,000 to Ethereum The attacker, after minting 10 million CYS, managed to bridge about $727,000 in proceeds to Ethereum through Mayan, deBridge and SWFT's Bridgers.

    Open source
  6. TB

    The Block@TheBlockCoPost on X ·

    THE BLOCK: An attacker minted 10 million unbacked CYS tokens through Cysic’s bridge on Saturday, sold 7.2 million of them and moved about $727,000 in proceeds to Ethereum before Cysic froze their address. Cysic has suspended the bridge and begun an investigation into the hack. https://t.co/EiLECeIxty

    Open source