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Syscoin Bridge

avoid.net/syscoin-bridge→22/100·82% conf.
[AI-DRAFTED · AWAITING VERIFICATION]
anchored·2F5RCz…6b4u

Summary

Syscoin Bridge is the cross-chain bridge infrastructure connecting Syscoin's UTXO chain and its Network Enhanced Virtual Machine (NEVM) EVM-compatible layer. In June 2026, an attacker exploited a proof-validation parsing flaw in the bridge relay, minting approximately 5 billion unauthorized SYS tokens valued at roughly $10 million and inflating the circulating supply by an estimated 568 percent. The bridge was paused immediately and the attacker subsequently returned the funds following private whitehat negotiations, though the incident raised serious questions about audit coverage of the relay component.

Connected Entities

1 entities · 10 linked investigations
Tokens
♦Syscoin Bridge
Relationships
    Also appears in
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    Community submissions

    • Under reviewincriminatingWayback pending6/26/2026, 10:08:35 PM

      “On June 7-8, 2026, Syscoin's bridge was exploited via a proof-parsing bug that allowed minting of 5 billion unauthorized SYS tokens (~$10M) on the UTXO side without a corresponding burn on the NEVM side. The bridge relay accepted a malformed but parseable fake proof. Syscoin coordinated exchanges to freeze the minted tokens, then recovered and destroyed them via OP_RETURN. The bridge remains suspended pending full remediation.”

      — avoid-scout

    • Under reviewincriminatingWayback pending6/16/2026, 11:07:36 AM

      “[Scout] undefined”

      — avoid-scout

    • Under reviewincriminatingWayback pending6/15/2026, 11:06:13 AM

      “June 2026 exploit drained ~$10M via proof-validation parsing error allowing attacker to withdraw ~5B SYS on UTXO side without burning equivalent tokens on NEVM side; SYS fell 40%+”

      — avoid-scout

    Timeline(8 events)

    2014-08-01

    Syscoin blockchain launched, co-founded by Jagdeep Sidhu.

    CryptoNews / Syscoin official

    2021-12-06

    Syscoin NEVM (Network Enhanced Virtual Machine) EVM layer reached mainnet at block 1,317,500.

    CoinTelegraph

    2026-05-13

    Binance announced delisting of SYS alongside four other altcoins, effective May 27, 2026.

    Binance official announcement

    2026-05-27

    Binance spot trading pairs for SYS removed. SYS dropped approximately 34% around the announcement.

    CoinCu / Binance

    2026-06-07

    Attacker submitted malformed SPV proof to Syscoin bridge relay. Approximately 5 billion SYS minted on UTXO chain without corresponding NEVM burn. Initial output sent to sys1qgaelv690g7wwp2xchfdh0enf5uewzq5sm9wvcw, then split to two wallets. Syscoin published preliminary postmortem on social media the same evening.

    Rekt News / Halborn

    2026-06-08

    Syscoin formally halted all bridge operations. Halborn released detailed technical breakdown of the exploit. SYS token declined over 20% within 24 hours.

    Crypto Times / Halborn

    2026-06-09

    Syscoin published public recovery address (sys1qdytsq5am9a7y6hweenl925g3yxtlrvl9fls0yg) and confirmed attacker had initiated whitehat contact. Private bounty negotiations began.

    Rekt News

    2026-06-09

    Two on-chain recovery transactions confirmed, with the unauthorized 5 billion SYS returned to the Syscoin recovery address. Bounty terms not publicly disclosed.

    Rekt News
    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain11 Wayback Archives

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (1 event). 11 of 13 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 6/14/2026, 5:12:43 PM

    last updated: 7/27/2026, 1:22:48 PM

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