Cysic Plans to Burn 7.2 Million CYS by End of October to Offset Unauthorized Minting Impact

Odaily: Cysic has released an update on the cross-chain bridge security incident, stating that it plans to burn 7.2 million CYS from the foundation reserve by the end of October to offset the impact of unauthorized minting and bring the token supply back in line with its tokenomics model. Once the burn is completed and confirmed, Cysic will publish the corresponding on-chain records.