$160M of the $220M+ stolen from Sui has been frozen and will be restored to Cetus pools soon, confirms $SUI CPO.
Bit-by-7786
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$CETUS Protocol, the largest #DEX on the Sui network, suffered a massive security breach, losing over $200–$260 million in assets.
The attacker exploited vulnerabilities using fake tokens to manipulate price curves and drain liquidity pools, extracting real assets like SUI and USDC.
$CETUS token price crashed by up to 80% during the incident, later stabilizing around $0.17.
All smart contracts on Cetus have been paused for safety while the team investigates and prepares a detailed statement.
The exploit has caused widespread panic and halted trading across the #Sui #DeFi ecosystem, affecting other projects and tokens.
#Binance and other industry players have offered technical support to help contain the situation
🚀Robinhood just proposed SEC rules to regulate tokenized real-world assets—aiming to bring Wall Street onchain and unlock a $30T market! Big for crypto and DeFi.
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🚀 Neutron is building a secure & permissionless smart contract platform! - 💻 Built on CosmWasm - 🌉 Native IBC & cross-chain support - 🔗 Interoperable by design – devs can deploy smart contracts that talk across chains!