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Irfan Malik 566
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Irfan Malik 566
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#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. NOW WHAT YO DO? Be safe and secure your assests. Never click on any link without investigating. Secure your accout with 2FA or Biomatric or facelock. Follow me to stay uptodate 🎁
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