Cysic halts the bridge: ten million CYS with no backing, 6.22 percent more in circulation

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.On October 17 an attacker created ten million CYS with no backing through the Cysic bridge; 76 minutes later the foundation blacklisted the address, and 7.2 million tokens were already gone. The bridge remains switched off, and for holders of wrapped tokens the case reframes one question.Seventy-six minutes passed between the unauthorised mint and the freeze, and in that time the damage was already done. On Saturday, October 17, 2026, at 12:31:38 UTC, ten million CYS came into being on BNB Smart Chain without anyone having deposited a single token. The Cysic Foundation added the recipient address to the token contract's blacklist at 13:47:52 UTC. By then, 7.2 million of the new tokens had already left the address, around 72 percent of the mint. The bridge the attack ran through has been switched off since, and the foundation has named no date for a restart. For holders that is the real point: what decides the fate of the rest of a position is not the price swing but the question...