Market News: Cysic accused of TGE cluster manipulation, falsified on-chain data, and selling substandard mining machines

PANews December 14 News, according to disclosures from crypto figures such as KOL Morsy and CryptoPainter, there are serious clustering behaviors in Cysic TGE. A large number of token-holding addresses were created three days ago, 12-20% of CS tokens have been manipulated, and some have been sent to CEXs, ultimately leading to poor community distribution. Participants in the pre-sale and other contributors have either suffered losses or did not receive the rewards promised by the team. Additionally, Cysic is suspected of having data layer issues. Its annual on-paper loss is $3.8 million, with revenue of $150,000, while externally claiming revenue of $6 million. Amid the company’s massive losses, the founder’s personal wallet address took out a total of $2.78 million from the company’s wallet and other external addresses in 2024 (most of which occurred during investor payments in 2024); by 2025, as of now, they have taken out $1.67 million (mostly concentrated on NFT sales and prior to listing). Meanwhile, the company’s products are of questionable quality, with some chips inside mining machine boxes coming from recycled Ant L7 miners.