A shocking heist! The Sui ecosystem was robbed of $223 million by hackers, shattering the myth of DeFi security
It's terrifying!
The largest DEX platform in the Sui ecosystem, Cetus, has just suffered an epic hacker attack, with losses amounting to $223 million! This is definitely one of the most serious black swan events in the crypto space in 2025.
The truth has emerged
The Sui official team urgently released a report, admitting that this incident exposed the fatal weakness of the DeFi ecosystem. Interestingly, they are desperately shifting the blame — the problem lies not with the Sui blockchain itself, nor with the Move language, but with mathematical errors in third-party libraries. Do you believe this explanation? I personally find it a bit far-fetched.
Crisis management was relatively timely
$162 million in assets were frozen immediately
A reward of $6 million was offered to recover the stolen funds
The hacker's wallet was directly blacklisted
A whopping $10 million was spent to upgrade the security system
The most ironic part is
Just as the validators were urgently freezing assets, the community exploded: "What happened to decentralization? 114 validators can arbitrarily freeze accounts?" This is simply a loud slap in the face to Sui's "decentralization" reputation!
Hacker techniques revealed
After successfully stealing on May 22, the hacker immediately transferred $63 million in dirty money to Ethereum and washed $53 million using a wallet ending in "AF16". This operation was smooth and definitely carried out by a professional team.
The price plummeted
The price of SUI directly dropped by 3%, now desperately holding at $3.49. If you ask me, this decline is still quite mild; in a bear market, a halving wouldn't be an exaggeration.
A bloody lesson
This incident completely shattered the illusion of "absolute security" in DeFi. With only half of 2025 gone, hackers have already taken away billions of dollars. I advise everyone:
Don't put all your eggs in one basket
Be sure to use cold wallets for large assets
If you see advertisements for "absolute security," just walk away
Finally, a heartfelt statement
Sui's crisis public relations response was passable, but the security vulnerabilities in DeFi are like the elephant in the room — everyone can see them, yet everyone pretends to be blind. If you ask me, instead of bragging about how high the TPS is every day, it's better to first master this fundamental skill of security!
The crypto space is full of opportunities and risks; staying vigilant and seizing the right moment is key. I've also discovered a project with short-term explosive growth potential that could double! If you want to keep up, follow me for free sharing!