SYS Drops 20% After 5B Unauthorized Tokens Minted in Syscoin Bridge Exploit
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An attacker exploited a validation flaw in Syscoin’s bridge to mint about 5 billion SYS tokens without authorization, sending the token’s price into a nearly 20% freefall. The Syscoin team published an early postmortem on X, highlighting a critical bridge security vulnerability that compounds SYS’s recent multi-week losses and raises broader crypto security and token minting risk concerns.
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An attacker exploited a validation flaw in Syscoin’s bridge system, minting about 5 billion SYS tokens without authorization and sending the token’s price into a nearly 20% freefall.
This incident was revealed by the Syscoin team in an early postmortem published on X, and it comes during a tough stretch for SYS, which was already deeply in the red across the last few weeks and months.
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