đš Update on Cetus Protocol Hack on SUI Network đš
Just a quick update on the recent vulnerability discovered on the Cetus Protocol on SUI Network. Here's what you need to know: đ§”
Vulnerability Discovered: An attacker exploited a vulnerability this morning. The team acted fast, identifying the issue and pausing their protocol to resolve it. đĄïž
Financial Impact: Initially, $220M was thought to be taken, but only $60M remains to be cleaned back. $160M was frozen by three validator participants. đ°đ
How It Works: Our decentralized network allows validators to vote on transactions. Two-thirds consensus is needed for a transaction to be final, which helped freeze the attacker's funds and protect user funds. đđ
Ongoing Efforts: The team is working diligently to recover the stolen funds, with support from MISTEN and the SWE Foundation. Teamwork makes the dream work! đ€đȘ
Technical Details: The bug was in the business logic, not in the underlying base layer (SWEE, MOVE VM, or Move programming language). The core technology remains robust. đ ïžđ»
Current $SUI token stats: $3.67, down 2.9%. Market cap: $12.85B. 24H trading volume: $3.65B. đđ
Stay tuned for more updates! đ
