Cysic's bridge exploited by attacker who minted 10M CYS tokens, converted them to 306.6 ETH on Ethereum, forcing protocol to suspend the bridge.
Security & Exploits ·
An attacker exploited Cysic's bridge to mint 10 million CYS tokens on BNB Smart Chain, then converted a portion of the newly created tokens into cryptocurrency assets valued at approximately $727,000 and moved them to Ethereum. According to onchain records, the attacker sold 7.2 million of the minted tokens and bridged the proceeds, ultimately receiving 306.6 ETH on Ethereum before Cysic identified and blacklisted the address.
In response to the breach, Cysic suspended its bridge to prevent further unauthorized activity. The exploit appears to have stemmed from a vulnerability in the bridge's minting mechanism that allowed the attacker to generate tokens without proper authorization or collateral backing.
What remains unclear is the full scope of the vulnerability, whether other assets or addresses were affected during the window the bridge was active, and what security measures will be implemented before the bridge resumes operations.