A hacker stole approximately $223 million from the Cetus decentralized exchange on the Sui blockchain, with some funds already transferred out. The company responded by locking contracts and actively working to recover disputed funds, amidst ongoing debate about the exploit method. #CetusHack #SuiBlockchain
Keypoints
- The $223 million theft targeted the Cetus decentralized cryptocurrency exchange on the Sui blockchain.
- Cetus paused the platform and locked contracts to prevent further loss, aiming to recover the remaining funds.
- Blockchain experts observed that about $50 million of stolen funds have already moved to a new wallet.
- Investigations suggest the hacker may have exploited a protocol vulnerability or manipulated coin prices.
- This attack adds to a series of high-value cryptocurrency platform breaches in 2024.
Read More: https://therecord.media/decentralized-crypto-platform-cetus-theft