Decentralized exchange platform Cetus Protocol has announced a temporary pause of its smart contract operations after detecting an incident on its protocol. The platform's team shared the alert on X (formerly Twitter), citing safety precautions as the reason for the suspension.
“There was an incident detected on our protocol and our smart contract has been paused temporarily for safety. The team is investigating the incident at the moment,” Cetus stated.
The team has not yet disclosed the specific nature of the incident, whether it was a vulnerability, exploit, or system error. However, they assured the community that a full investigation is underway and that more detailed updates will be provided soon.
Cetus Protocol is known for its role in providing concentrated liquidity and automated market making (AMM) services across the Aptos and Sui ecosystems. Any disruption in its smart contract can potentially impact liquidity providers and traders on the platform.
This incident serves as a reminder of the ongoing security challenges facing DeFi platforms and the importance of transparent communication during such events. $SUI