Cy Waits Saved the Life of Paris Hilton

Following a near-attack by a knife-wielding psycho, Paris Hilton is alive and well. She says she has boyfriend Cy Waits to thank for that.

As we relay the series of bizarre events related to this story, readers can decide whether or not they're grateful to Waits for this action...

Cy Waits... for no policeman to take action, not when he can pull out his glock and lay down the law himself!

As previously reported, some wacko made his way on to Hilton's property earlier this week, wielding two knives and trying to make his way inside.

But Waits - a nightclub owner who started getting tested for STDs dating Paris this summer - awoke around 6:30 a.m. to sounds below; grabbed a gun; and spotted a man (later identified as Nathan Parada) peering through a window.

Sources confirm to TMZ that Cy made his way outside and held Parada at gunpoint, causing the intruder to drop to his knives and lie on his stomach.  He kept the crazy moron like that until police arrived.

Since the incident, Hilton's security team has installed a handful of new cameras around the house; two new bodyguards have also been hired to protect the socialite.

Paris has reportedly told friends: "Thank God Cy was there, he saved my life."