SUI DeFi Attack: $1 Billion Stolen in Exploit, Raising Concerns About Network Security

A recent exploit of the Cetus DEX on the Sui blockchain resulted in the theft of approximately $200 million. This incident has significantly impacted market trust and raised concerns about the network’s centralization issues. Validators intervened by freezing stolen funds, but this event highlights the vulnerability of DeFi protocols to attacks. The impact is felt across SUI-based liquidity pools, causing a decrease in token values for key projects such as CETUS, LOFI, and HIPPO. Experts are emphasizing that effective recovery strategies are crucial, yet network control held by validators raises questions about future security and growth potential. )