Syscoin suspends bridge after 5B SYS unauthorized minting

Syscoin (SYS) announced on X that it has suspended its bridge operations to investigate the cause of a recent unauthorized minting of 5 billion SYS. A hacker exploited a verification issue within the bridge to mint the tokens without authorization on the UTXO chain. The funds have since been distributed to multiple addresses, and Syscoin is working with exchanges and major partners to block deposits and trading of the assets.