A hack worth 223 million dollars😱 shakes the Sui network and negatively impacts the price of SUI,🚨🔥
Driven by increasing interest in real asset tokens and new institutional partnerships.
Attackers exploited vulnerabilities in the smart contracts of the Cetus protocol, using fake tokens like BULLA and MOJO, to manipulate asset prices and drain liquidity from pools, with approximately 11 million dollars stolen from the SUI/USDC pool.
The hack led to a temporary suspension of trading, and the total value locked on the Sui network dropped from 2.13 billion dollars to 1.92 billion dollars. The price of the Cetus protocol token fell by 40%, while the USDC coin temporarily lost its peg to the dollar due to a lack of liquidity.#sui
