#Hackers Attack on $SUI Blockchain

Bad new for crypto lover is that the hackers attack on Sui blockchain and 2.6 Million$ Coin were hacked. The company immidately recover 160million$ Coin but 100 million$ are left.

The Sui blockchain suffered a significant attack. hHackers exploited a vulnerability in Cetus Protocol, a decentralized exchange aggregator on Sui, draining approximately $260 million in crypto assets.

*Key Details:*

- *Exploit Method*: The attacker used "spoof tokens" like BULLA to manipulate pricing curves and distort reserve balances, allowing them to extract valuable tokens like SUI and USDC without providing proportional value.

- *Stolen Assets*: The attacker stole around 12.9 million SUI ($54 million), $60 million in USDC, and other tokens like Haedal Staked SUI and TOILET.

- *Fund Movement*: The hacker bridged over $60 million in stolen funds to Ethereum and bought 21,938 ETH, attempting to launder the funds.

*Response and Recovery Efforts:*

- *Smart Contract Pause*: Cetus quickly paused its smart contracts to prevent further damage and launched a full investigation.

- *Fund Freeze*: Sui validators froze approximately $162 million of stolen assets, and Cetus offered a $6 million bounty to the hacker in exchange for returning the remaining funds.

- *Collaboration*: The Sui Foundation, Cetus, and cybersecurity firms like Hacken and PeckShield are working together to recover the funds and investigate the incident.

*Impact on Sui Ecosystem:*

- *Token Price Drop*: The SUI token dropped around 15% to $3.81 following the news, and other Sui-based tokens like LOFI, HIPPO, and SQUIRT crashed by 51-97%.

- *DeFi Ecosystem*: The attack significantly impacted Sui's DeFi ecosystem, with total assets held by investors plummeting by over $330 million.

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