Syscoin Confirms Official Recovery Address After Unauthorized SYS Minting

Syscoin has confirmed an official recovery address to receive the return of all affected funds following an incident involving unauthorized token minting. According to Foresight News, the modular Layer-1 blockchain said cross-chain operations remain suspended as a precaution, while its core network continues to operate normally and was not affected. Syscoin said that once funds are returned to the recovery address, the team is prepared to conduct standard white-hat bounty discussions through private coordination channels. Foresight News previously reported that Syscoin announced on June 8 that an attacker illegally minted about 5 billion SYS, prompting the suspension of cross-chain activity.