Cysic Bridge Exploit Creates 10 Million Tokens Before $727,000 Moves To Ethereum

Cysic has suspended its cross-chain bridge after an attacker created 10 million unauthorized CYS tokens on BNB Chain and converted part of the supply into assets moved toward Ethereum. TL;DR: On-chain analysis traced the sale of about 7.2 million CYS and the receipt of 306.6 ETH, valued at roughly $727,000 at the time. The bridge was stopped while the incident was investigated. The mechanics of the attack illustrate why bridges remain an awkward security problem. A token minted on one network is supposed to correspond to an authorized event elsewhere. When that verification breaks, an attacker can create assets with no legitimate backing and sell them into whatever liquidity is available before a project can respond.

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