What happened to $SUI ?

A lot of people are talking about this situation, but there is very little information about what exactly the hack looked like.

#CETUS was the largest liquidity aggregator with $240M TVL that was directly backed by SUI, but a vulnerability was found in it. The thing is that CETUS uses its pools as a source of prices (internal oracles), without external providers like #Chainlink ( $LINK ). This is where the main vulnerability was. Hackers were entering fake tokens into the pools, and the protocol thought it was getting liquidity.

As a result, we have huge losses and token depegs.

What can we learn from this situation?

Always keep your security in mind and don't underestimate deversification. CETUS was an old project and that was one of the reasons why it had this vulnerability. But speaking of new liquidity aggregator projects, there is Omniston Protocol, developed by STON.fi DEX, the largest DEX in the #TON network. Omniston collects liquidity from different sources and thus generates the best rate and virtually zero slippage.