🛡️ Cetus Protocol suffers a hack of $260 million
Summary:
Date of the incident: May 22, 2025
Compromised amount: Approximately $260 million
Cause: Exploitation of vulnerabilities in smart contracts
Actions taken: Pause of operations and collaboration with the Sui Foundation for fund recovery
Impact:
CETUS Token: Significant drop in its value
Sui Ecosystem: Loss of trust and decrease in liquidity
Security measures:
Thorough review of smart contracts
Implementation of more rigorous security audits
Transparent communication with the community
