PANews
PANews|Oct 28, 2026 13:48
[Cysic Burns Approximately 7.2 Million CYS on BNB Chain to Offset Unauthorized Issuance During Cross-Chain Bridge Security Incident] Cysic announced that it has burned 7,200,002 CYS (approximately $860,000) on the BNB Smart Chain to offset unauthorized token issuance during 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. Following the burn, the supply of CYS on BSC is permanently reduced, returning to the level set by the token economic model. Cysic stated on October 26 that it expects the cross-chain bridge to be repaired by the end of October 27.
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