Cysic Foundation is investigating an unauthorized minting of CYS tokens on the BNB Smart Chain and says the size of the mint alone does not indicate the monetary scale of the incident.
In a Sunday incident report, the foundation said its cross-chain bridge was suspended after an attacker exploited a data-handling vulnerability on Saturday to mint 10 million CYS on the BNB Smart Chain. Preliminary findings point to unauthorized access to the database supporting the bridge's operation.
The tokens were minted at 12:31:38 UTC on October 17, and at 13:47:52 UTC Cysic blacklisted the recipient's address in the token contract. About 2.8 million CYS remained on that address, with transfers from it restricted. According to CoinMarketCap, roughly 160.8 million tokens are in circulation.
According to the project's tokenomics documentation, CYS coordinates the incentive system for users, computing resource providers, governance participants and stakers in the Cysic network.
Cysic said the incident was limited to bridge message processing and token 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 users' wallets," the statement said.
The report said the number of minted tokens does not determine the final dollar amount of losses; token transfers, swaps and actual losses remain under review. Cysic has hired an unnamed security firm and plans to publish a follow-up report once the current stage of the investigation is complete.
Read also:
