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Sui's Top DEX Cetus Hit by Over $260M Exploit
Summary: The Sui blockchain's prominent decentralized exchange, Cetus Protocol, experienced a severe security breach Thursday, leading to the theft of over $260 million in digital assets and sending shockwaves through the nascent Sui ecosystem. The exploit, which caused the CETUS token to plummet and disrupted various trading pairs, appears to have targeted liquidity pools denominated in ...
The Sui blockchain's prominent decentralized exchange, Cetus Protocol, experienced a severe security breach Thursday, leading to the theft of over $260 million in digital assets and sending shockwaves through the nascent Sui ecosystem.
The exploit, which caused the CETUS token to plummet and disrupted various trading pairs, appears to have targeted liquidity pools denominated in SUI. On-chain analysis reveals the stolen amount surpasses Cetus's total locked value and market capitalization prior to the incident, with funds reportedly being transferred and converted to Ethereum across chains.
While a Cetus team member attributed the event to an "oracle bug," blockchain data strongly suggests a large-scale unauthorized transfer of funds. Sui network officials have confirmed their active support for the ongoing investigation into the incident.
Given Cetus Protocol's critical role, handling over 60% of Sui's DEX volume, the incident exposes a significant vulnerability for the layer-1 blockchain.
As major Sui-linked tokens show initial signs of stabilizing after the immediate fallout, the focus now shifts to the Sui Foundation's ability to restore confidence and demonstrate the network's resilience in the face of such a substantial security challenge.
