Cysic Burns About 7.2 Million CYS on BNB Chain to Offset Unauthorized Minting in Cross-Chain Bridge Security Incident

October 28: Cysic announced it hasburned 7,200,002 CYS (about $860,000) on BNB Smart Chain to offset tokens that were unauthorizedly minted in a cross-chain bridge security incident. The burn was completed in two transactions — a test burn of 1 CYS and a main burn of 7,200,001 CYS — both confirmed on-chain. After the burn, CYS supply on BSC is permanently reduced, returning to the level set by the token economic model. On October 26, Cysic said it expected the cross-chain bridge to be fixed by the end of October 27.