Cysic burns 7.2M CYS on BNB Chain after bridge security incident
- —7,200,002 CYS worth about $860,000 burned on BNB Smart Chain
- —Burn executed in two transactions: a 1 CYS test and 7,200,001 CYS main burn
- —CYS supply on BSC returned to the level set by the tokenomics model
- —The bridge was expected to be fixed by the end of October 27
Why it matters: The burn offsets unauthorized minting and protects CYS holders from dilution, but the incident highlights cross-chain bridge risks.
Source: PANews