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Syscoin recovers and burns 5 billion hack tokens


Syscoin recovers and burns 5 billion hack tokens

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Syscoin recovered and destroyed 5 billion SYS tokens that an attacker minted via a flaw in its cross-chain bridge, burning supply to restore pre-exploit levels. The exploit underscores crypto security risks in cross-chain DeFi infrastructure, the bridge remains offline pending fixes, and the incident may pressure token performance and adoption until the protocol is audited and relaunched.

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Syscoin’s team has recovered and destroyed 5 billion SYS tokens that an attacker minted through a flaw in the project’s cross-chain bridge.  Syscoin had to burn the minted tokens to restore its supply to its pre-exploit levels; however, its bridge remains offline. How did the exploit happen? The Syscoin team stated that they detected the...
Read the article at CryptoPolitan

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In This News

Coins

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