An unauthorized mint has left roughly 2.8 million Cysic (CYS) tokens immobilized on BNB Chain, while Cysic plans to remove 7.2 million from its reserve before October ends.
The Oct. 17 incident centered on Cysic’s bridge, and unauthorized activity put 10 million CYS onto BNB Chain. Cysic later blacklisted the receiving address; by then, 7.2 million tokens had been sold and about 2.8 million were frozen there.
The reserve burn is meant to counter the unauthorized issuance. Cysic uses the affected bridge to move CYS between its mainnet and other networks. Cysic says it will publish a public record of the burn after the transaction is confirmed.
An earlier Cysic offer to recover exploit proceeds would let the recipient keep 30.652 Ether (ETH) if 275.872 ETH was returned within 72 hours. Under the proposal, the recipient could keep that amount, about one-tenth of the proceeds, while sending the larger share to an address selected by the Cysic Foundation. The 72-hour window was to begin when the notice appeared on-chain.
