#CryptoNewss
On the evening of May 22, the DEX (Decentralized Exchange) o Cetus on the Sui blockchain was hacked, losing up to $200 million. Although $200 million worth of assets were stolen from the liquidity pool, the Cetus team denied that it was a bug and not a hack.
Whether due to a bug or a hack, nearly $100 million of the stolen assets have been transferred to the Ethereum blockchain, and the receiving wallet is a brand new wallet that has never had a single transaction before.
In fact, the hack did not start on May 22. Cetus had seen a significant increase in transactions since May 21, with transactions worth $320 million in a single day. This sudden surge in transactions could be due to hackers withdrawing funds and not being noticed until the evening of May 22.
The Cetus hack also caused the price of SUI to plummet, but it soon recovered. In addition to SUI, some tokens built on the Sui blockchain also fell in price, with the AXOL token losing 99.5% of its value.
Additionally, the Cetus team's claim of a bug has also raised questions among the community, with a spokesperson for AMLBot saying, "We're seeing assets being moved to Ethereum at a rate of $1 million per minute. Given the level of activity, it seems like there's more to the story than just a bug."
Cetus has not yet released any updates, other than saying that smart contracts have been temporarily suspended for security reasons and that an investigation is underway.