Sui’s Biggest DEX Exploited for $220M

Sui’s Biggest DEX Exploited for $220M

Cetus, the largest decentralized exchange and liquidity provider on the Sui blockchain, has suffered a massive exploit resulting in the theft of $220 million of digital assets. The attacker exploited vulnerabilities in Cetus’s smart contracts by sending “spoof,” or fake, tokens with no real value to the protocol. The fake tokens manipulated Cetus’s price oracles and reserve calculations, tricking the protocol into treating them as valuable asset…

Cetus Reveals Recovery Plan, Taps SUI for Bridge Loan

A Sui community vote requires over 50% participation and majority approval to reclaim $162 million in frozen funds from the Cetus exploit.

Cetus Protocol Announces Readiness to Compensate Stolen Assets - Bitcoinsensus

Cetus Protocol announces readiness to compensate stolen assets using its own reserves, while UI Foundation will support the recovery through a liquidity bridge. More on the Cetus Incident and Recovery Measures As a reminder, Cetus Protocol recently experienced a major security incident that resulted in the loss of approximately $223 million – an event that understandably shook the position of the entire ecosystem. New Progress Update – A Path F…

The Sui Foundation affirms its support for Cetus's proposal to recover the funds stolen during the hack article Helping Cetus: The funds soon recovered ? appeared first on Cointribune.

The 223 million attack on Cetus is based on a flaw in the checked_shlw function of an open source library, allowing to inject false liquidity via a flash swap. The Sui network's validators have frozen 162 million dollars on the attacker's portfolios, but 60 million have already been converted and transferred to Ethereum. Cetus has launched a bonus of 5 million to identify the attacker and is planning an on-chain vote to restore frozen funds, whi…

Sui Network Commits $10M To Strengthen Security Measures After Cetus $223M Exploit

Layer 1 permissionless blockchain Sui Network stated that the recent incident involving the Cetus decentralized exchange (DEX) was caused by a flaw in a math library specific to Cetus, rather than any inherent vulnerability within the Sui network or the Move programming language.  Despite the technical origin, the outcome for users remains unchanged. The platform emphasized the importance of adopting a comprehensive approach to ecosystem securit…