Sui Foundation Steps Up to Aid Cetus Protocol After $223M Hack

The Sui network’s Cetus Protocol was recently hit by a devastating security breach, leading to a significant loss of $223 million in tokens. The attacker exploited flaws in the platform’s price mechanisms and spoofed tokens, causing a sharp decline in several related cryptocurrencies. Fortunately, the Sui Foundation has joined forces with Cetus to recover funds and enhance security protocols. The investigation into how this breach occurred is underway. While $162 million of stolen assets are currently frozen, experts and community members alike are calling for stricter cybersecurity measures across the cryptocurrency landscape.