DeFi exploit shakes the SUI system with losses exceeding $230 million!
On May 22, 2025, Cetus, a major liquidity provider on the $SUI blockchain, was exploited, resulting in a massive $230M loss. The exploit was due to a vulnerability in the checked_shlw mathematical function, allowing an attacker to convert assets at almost no cost.
On May 22, 2025, the Cetus protocol on the SUI network suffered a serious security breach resulting in a $230 million loss. A vulnerability in a mathematical function within smart contracts allowed assets to be converted at almost no cost.
โจโจKey Findings | Key Detailsโจโจ
Exploit Trigger: Malicious use of a math function overflow.
Immediate Action: Cetus suspended smart contract operations.
Security Report: SlowMist confirmed the flaw and urged stricter validation.
Market Impact: Multiple token pairs affected, draining liquidity pools.
SUI Price: Slight dip to $3.64 but remains up 47.8% in the last 60 days.
Community Response: Calls for tighter security and audit protocols.
Technical Details:
A flaw in a mathematical function called checked_shlw was exploited.
Smart contracts were temporarily suspended to contain the attack.
The SlowMist report warned against ignoring the limits of mathematical functions.
Liquidity in several trading pairs decreased.
Price $SUI dipped slightly but remains up 47.8% over the past two months.
โจโจWhy It Matters | Why This Matters?โจโจ
This incident exposes the fragility of DeFi platforms and the risks from overlooked technical boundaries in smart contracts. It also highlights the growing need for thorough security audits in rapidly scaling ecosystems like SUI.
This attack highlights the security vulnerabilities in the DeFi sector and the necessity for thorough code reviews, especially with the expansion of networks like SUI.
โจโจLooking Ahead | Future Outlookโจโจ
Cetus is working with SUI and SlowMist to recover assets and secure user funds.
This may trigger regulatory scrutiny on how DeFi protocols handle smart contract safety.
Positive outcome? Many past hacks have accelerated security upgrades and industry maturity.
Cetus is collaborating with the SUI team and security experts to recover funds.
This breach may lead to increased regulatory scrutiny on DeFi platforms.
Conversely, such incidents have prompted many protocols to enhance security measures and develop stronger protective solutions.
โจโจDeFi is powerful but not without risk โ secure coding mattersโจโจ
DeFi is powerful but not without risks โ secure coding is crucial.
#Cetus #SUI #DeFi #CryptoNews #BlockchainSecurity
@Nohawn
