Cetus Suffers $223 Million Hack, Pausing Smart Contract to Contain Losses

The Sui-based liquidity provider Cetus confirmed a significant loss of $223 million due to a hack. The company has halted its smart contract to prevent further losses and is working with the Sui Foundation to recover funds. According to Cetus, they were able to safeguard $162 million from the stolen assets by temporarily pausing the contract. The remaining funds are being transferred across multiple Sui wallets, many of which have already been blacklisted.