Market news: Cysic has been exposed for manipulating its TGE cluster, falsifying accounting data, and using substandard mining machines.
On December 14, according to disclosures by crypto figures such as KOL Morsy and Crypto_Painter, there is serious clustering behavior in the Cysic TGE, with a large number of token-holding addresses created only 3 days ago. Between 12-20% of CYS tokens are manipulated, some of which have been sent to CEX, ultimately resulting in poor community allocation. Participants and other contributors either suffered losses or did not receive the rewards promised by the team.
In addition, Cysic is suspected to have issues at the data level, with an annual book loss of 3.8 million USD, revenue of 150,000 USD, while publicly claiming revenue of 6 million USD; amid the company's huge losses, the founder's personal wallet address took a total of 2.78 million USD from the company wallet and other external addresses in 2024 (mostly concentrated when investors made payments in 2024); 1.67 million USD has been taken so far in 2025 (mostly concentrated before NFT sales and listings). Meanwhile, the company's products are of inferior quality, with some chips inside the mining machine boxes sourced from recycled Ant L7 miners.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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