CYS cross-chain bridge hack over weekend causes $727K in losses

A cross-chain bridge attack on CYS led to about $727,000 in losses after 10 million CYS were illicitly minted, The Block reported. The attacker exploited the CYS bridge on Oct. 17, local time, to mint 10 million CYS on BSC, sold part of the holdings, and transferred about 306.6 ETH to an external address. The CYS Foundation said the incident was limited to the bridge function and did not affect the mainnet. The foundation added that it immediately suspended the bridge and is responding by engaging a security firm, among other measures.