What Does the CETUS Hack Mean for DeFi Security on SUI?
- Hackers drained over $220 million from CETUS DEX, a key SUI-based platform.
- $160 million in stolen funds has been frozen and is set for recovery.
- The hack has raised serious questions about DeFi security and SUI decentralization
Hackers exploited CETUS, a top decentralized exchange on the SUI blockchain, draining over $220 million in assets. The breach on May 22 triggered a sharp 40% drop in the CETUS token. With $160 million frozen and recovery underway, the breach is now a flashpoint for ongoing debates around DeFi security on SUI.
The attack on CETUS DEX began when a hacker withdrew liquidity from its pool, exploiting a vulnerability in the platform’s smart contract. The breach led to a sharp price plunge, as CETUS fell from a daily high of $0.24563 to about $0.17174, impacting CETUS holders.
Related: SUI/Cetus Hack Update: $160 Million Of Over $220 Million Stolen Crypto Is Now Frozen
Data from TradingView shows CETUS had gained approximately 16% earlier that day before crashing post-exploit. The sudden reversal spurred fears among traders and DeFi users, particularly those engaged in liquidity farming on the platform.
CETUS DEX Hit: Hacker Drai…
The post What Does the CETUS Hack Mean for DeFi Security on SUI? appeared first on Coin Edition.
Read More
Sui Blockchain Fast-Tracks Whitelist Function After Messy CETUS DEX Hack
SUI/Cetus Hack Update: $160 Million Of Over $220 Million Stolen Crypto Is Now Frozen
What Does the CETUS Hack Mean for DeFi Security on SUI?
- Hackers drained over $220 million from CETUS DEX, a key SUI-based platform.
- $160 million in stolen funds has been frozen and is set for recovery.
- The hack has raised serious questions about DeFi security and SUI decentralization
Hackers exploited CETUS, a top decentralized exchange on the SUI blockchain, draining over $220 million in assets. The breach on May 22 triggered a sharp 40% drop in the CETUS token. With $160 million frozen and recovery underway, the breach is now a flashpoint for ongoing debates around DeFi security on SUI.
The attack on CETUS DEX began when a hacker withdrew liquidity from its pool, exploiting a vulnerability in the platform’s smart contract. The breach led to a sharp price plunge, as CETUS fell from a daily high of $0.24563 to about $0.17174, impacting CETUS holders.
Related: SUI/Cetus Hack Update: $160 Million Of Over $220 Million Stolen Crypto Is Now Frozen
Data from TradingView shows CETUS had gained approximately 16% earlier that day before crashing post-exploit. The sudden reversal spurred fears among traders and DeFi users, particularly those engaged in liquidity farming on the platform.
CETUS DEX Hit: Hacker Drai…
The post What Does the CETUS Hack Mean for DeFi Security on SUI? appeared first on Coin Edition.
Read More
Sui Blockchain Fast-Tracks Whitelist Function After Messy CETUS DEX Hack