1. The Blood and Tears History of Users: 220 million just disappeared?
At three o'clock this morning, I was just dozing off while scrolling on my phone, suddenly awakened by the explosive news from the Sui community - the Cetus protocol was hacked! 220 million just disappeared; this is not just a hacker, it's simply a bandit coming to rob money!
Event Overview: 30 Minutes of Bloodbath in the Sui Ecosystem
Vulnerability Triggered: The Fatal 30 Minutes of Manipulated Pricing Power
Attackers specifically targeted the Sui liquidity pool, stuffing a bunch of 'air tokens' (like BULLA) into it, draining the pool of real funds. On-chain data shows that 11 million SUI were withdrawn within 30 minutes, then 60 million were transferred to Ethereum to exchange for ETH via a cross-chain bridge. This operation is even harsher than a casino dealer!
Cetus hacker transferred 20,000 ETH to a new wallet address
Chain Reaction: Token Crash, Users Collectively Break Down
Token Plunge: CETUS price directly halved, SUI token fell 75% in 24 hours, and the community exploded: 'This operation is harsher than the hacker!'
Liquidity Dried Up: Cetus's TVL dropped from 30 million to 21 million, users sold off frantically, even Meme coins followed suit, BULLA, AXOL, and these coins went to zero.
2. Sui Validators' 'Nuclear Button': Freezing 160 million, but controversy is at its peak
Technical Decryption: Validators collectively 'turn a blind eye'
Sui's 113 nodes collectively added the hacker's address to the deny list, equivalent to all network nodes ignoring the hacker's transactions. More ruthless is that Sui's Move language can directly freeze tokens, meaning even if the hacker has the private key, they can't transfer it, effectively a 'physical account ban'.
Intense Controversy: Decentralization or 'Digital Hegemony'?
84% of the staked amount is controlled by foundation-related entities. Although this freeze rescued 160 million, it received severe criticism: 'What happened to decentralization? Isn't this just centralization?' Supporters counter: 'We can't let users be taken advantage of, can we? Let's choose the lesser of two evils!'
Global Shock: Community Split, Industry Alarm Rings
Public Opinion Battlefield: Two Factions Clash
Hardliners: 'Directly reset the hacker's address! 220 million is the users' hard-earned money!'
Liberals: 'If you can freeze the hacker today, you can freeze your wallet tomorrow! Decentralization is dead!'
Industry Earthquake: Security Defense Line Collapses
Audit Backlash: Cetus's vulnerability embarrasses auditing firms, even leading projects can't escape disaster.
Cross-Chain Risk: Hackers use Wormhole for money laundering, Ethereum's status as a 'money laundering haven' is once again questioned.
3. The Road Ahead: Can funds be recovered? Can Sui be reborn?
Recovery Plan: Sui's 'Secret Weapon'
The foundation requires validators to deploy special contracts to implement 'non-signature transfers' to return funds to the liquidity pool. If this succeeds, it will be the first 'non-private key transfer' in blockchain history, absolutely historic!
Ecosystem Reconstruction: Can Mysticeti V2 save the day?
Sui announces acceleration of consensus mechanism upgrade, creating a 'whitelist emergency channel', but when will user confidence be restored?
Is your wallet safe?
This battle of offense and defense is not over! Is the 'whitelist channel' that Sui is going to implement a lifesaver or a new trick? The remaining 60 million USDC in the hacker's possession on Ethereum, will it trigger a new round of bloodbath? Discuss in the comments: If it were you today, would you support Sui freezing the hacker's assets, or would you insist on decentralization?
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