On Thursday, an attacker exploited vulnerabilities in the smart contracts of Cetus, stealing 220 million dollars; to do this, they used fake tokens, without market value, to manipulate price data and drain liquidity funds.
The breach caused the collapse of several tokens based on Sui, including a drop of 76% in Lofi and 81% in Hippo, while USDC on Sui briefly fell to zero.
SUI urgently introduced a whitelist function that allows any transaction included in it to bypass all security checks. It also launched a system-level privilege restoration module and added the updated transaction to the whitelist.