TechFlow news: CyberConnect has issued a statement clarifying the situation regarding the CYBER Bridge and CP-1 proposal. CyberConnect acknowledged that community users flagged an error in the first proposal submitted to Cyber DAO. Although the team had already canceled the proposal, unfounded rumors circulating in the market continued to generate anxiety, doubts, and concerns about CYBER. The team has taken full responsibility for the mistake and implemented measures to prevent similar incidents in the future. They reassured the community that rumors about CYBER token manipulation or market manipulation are entirely baseless—these stemmed solely from incorrect token supply data.
CyberConnect also explained the recent surge in demand for the CYBER token in the South Korean market. Since major Korean exchanges only support CYBER deposits and withdrawals on Ethereum, this created a price discrepancy across networks. To address this issue, the team proposed CP-1, aiming to improve CYBER liquidity across three networks (ETH, OP, and BNB) through a bridging solution. However, the proposal contained an error regarding the amount of CYBER to be unlocked from the community treasury and was ultimately declared invalid.
To resolve the issue and prevent recurrence, CyberConnect is taking the following steps:
- Submit a new proposal to gain community approval for the bridging solution, with an extended multi-day voting period to allow thorough review and discussion.
- Engage external, reputable security experts to conduct a comprehensive security audit of the bridging solution, ensuring maximum protection for funds in the community treasury.
- Launch a Dune dashboard to provide real-time transparency on CYBER’s total and circulating supply, as well as the multi-sig wallet responsible for unlocking tokens.
