#USDC crashed by 99.7%
In just 5 minutes, the stablecoin on the SUI network plummeted to $0.003 on Cetus, losing its peg to the dollar.
The reason — hackers breached the Cetus DEX, the main liquidity pool provider on the SUI blockchain — many tokens on SUI dropped by as much as 80%.
Trading has been halted, so scooping up "stablecoins" at 0.3 cents is no longer possible.
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