BlockBeats News, June 8th, the modular L1 blockchain Syscoin released a preliminary post-incident report on a security event. The attacker exploited a validation bug in the cross-chain bridge to illicitly mint around 5 billion SYS tokens on the UTXO side. Following the event, Syscoin's cross-chain functionality has been suspended. The wrongfully minted funds have been moved and split, currently mainly concentrated in two addresses.

The team has contacted multiple exchanges and ecosystem partners to request a freeze or monitoring of funds related to the tainted UTXOs. At the same time, the team has identified the affected validation path and devised a solution. They are currently prioritizing the implementation of the fix and rectification of the illicit SYS outputs. Users are advised by the official team not to perform any transactions during the cross-chain suspension and have stated that they will continue to provide updates on the progress.