Market news: Cysic has been exposed for manipulating its TGE cluster, falsifying accounting data, and using substandard mining machines.
PANews reported on December 14th that, according to crypto influencers such as KOL Morsy and Crypto_Painter , Cysic TGE is experiencing severe clustering behavior. A large number of token-holding addresses were created just three days prior, and 12-20% of the CS tokens have been manipulated, with some already sent to CEXs, ultimately leading to poor community distribution. Participants in the pre-sale and other contributors have either suffered losses or failed to receive the promised rewards from the team.
Furthermore, Cysic appears to have data issues. Its full-year book loss was $3.8 million, with revenue of only $150,000, while its publicly claimed revenue was $6 million. While the company suffered huge losses, the founder's personal wallet address withdrew $2.78 million from the company wallet and other external addresses in 2024 (the vast majority of which occurred during investor payments in 2024); and has withdrawn another $1.67 million so far in 2025 (the vast majority of which occurred before NFT sales and coin listings). Simultaneously, the company's products are suspected of using substandard materials, with some mining rigs containing chips from recycled Antminer L7 miners.
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