Syscoin has paused its Bridge after a security incident that resulted in the creation of approximately 5 billion unauthorized SYS tokens. In a preliminary postmortem, the team said an attacker exploited a validation flaw in the Bridge process, causing the system to incorrectly accept a transaction proof and generate the unauthorized outputs through the UTXO Bridge path. The funds were later moved and split across multiple addresses, with around 4 billion SYS and 1 billion SYS traced to two major tainted wallets. Syscoin said it has identified the issue, prepared a fix, and is working with exchanges and ecosystem partners to monitor, freeze, or blacklist affected funds. Users have been advised not to use the Bridge until further notice.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Bitcoin briefly dipped below $60,000 during the final week of June before buyers stepped in,…
The price of XRP does not reflect its current or near-term utility. That is the…
Tokenization keeps winning. Token prices, meanwhile, seem to have missed the memo. Over the last…
Digital collectibles on Telegram seems to be in trend. Today, Telegram founder Pavel Durov recently…
Markets have a strange habit of punishing certainty. Earlier this month, VELVET was widely dismissed…
Speaking at Futura Camp during Berlin Blockchain Week 2026, Coinspaid Dev Executive Leader Alexey Tulia framed the discussion through 11 years of…
