News linked to both this project and an event.
The Cysic Foundation has issued a notice to the parties responsible for the unauthorized issuance of the CYS token, demanding the return of 275.872 ETH within 72 hours, which accounts for approximately 90% of the confirmed related proceeds. As a bounty for asset recovery, the party may retain the remaining approximately 30.652 ETH. The foundation stated that it has reconstructed key stages of the attack and preserved relevant technical and on-chain evidence; if payment is not received within the deadline, it will escalate the matter and cooperate with law enforcement to launch a criminal investigation.
The Cysic Foundation released an incident report stating that on October 17, its cross-chain bridge experienced a security incident in which an attacker minted 10 million CYS without authorization on the BNB Smart Chain. Upon discovering the anomaly, the project team suspended the cross-chain bridge, placed related addresses on an on-chain blacklist, and hired a professional security firm to investigate the attack vectors and fund flows.
Odaily reports: The crypto project Cysic has announced that its cross-chain bridge was paused on Saturday after an attacker exploited a processing flaw to mint 10 million CYS tokens without authorization on BNB Smart Chain. Preliminary investigations indicate that the attacker may have gained unauthorized access to the database supporting the bridge.The unauthorized minting occurred at 12:31:38 UTC, and Cysic blacklisted the receiving address in the token contract at 13:47:52. The address currently still holds approximately 2.8 million CYS, and related transfers have been restricted.Cysic stated that the incident only involved cross-chain bridge message processing and token minting, and did not affect the mainnet or other operating systems, nor did it result in the theft or unauthorized transfer of existing CYS or other assets in user wallets. Token transfers, swaps, and actual losses are still under review, and the company has engaged security firms and plans to release a follow-up report. (Cointelegraph)
According to the quarterly Security and Compliance Report by Hacken, 67 security incidents in the Web3 space resulted in losses of $763.9 million in Q2 2026, making it the most severe quarter since Q2 2025. Compromised keys and infrastructure accounted for 88.3% of the stolen funds, approximately $674.5 million. Smart contract vulnerabilities remained the most common type of attack, linked to 44 out of the 67 incidents, but corresponding losses represented only about 11% of the total. Approximately 75.5% of the losses stemmed from two incidents attributed to North Korean threat actors, and 14 audited protocols were breached during the quarter. Leo Fan, founder of Cysic, stated that an audit is a point-in-time assessment of a specific codebase and does not automatically cover signature devices, cloud infrastructure, operational permissions, subsequent upgrades, third-party dependencies, or old contracts that remain callable. Samuel Videau, CTO of Genius, pointed out that nearly 90% of losses came from compromised keys, signers, and infrastructure. Multiple security leaders noted that Web3 security requires layered defenses including real-time monitoring, key management, multi-party authorization, and bug bounty programs. Leo Fan expects that operational access control attacks will continue to dominate losses in the second half of 2026, including social engineering, credential theft, compromised signers, cloud or CI/CD intrusions, and attacks on off-chain validator infrastructure.