Cetus Protocol Security Breach Leads to $223 Million Loss

A significant security breach at the Cetus Protocol, a major decentralized exchange (DEX) on the Sui blockchain, has resulted in losses estimated between $223 million and $260 million. The attack exploited vulnerabilities in the protocol’s smart contract technology to inject spoof tokens, resulting in a freeze of $162 million in stolen funds by the Sui Foundation. 🕵️‍♂️ This incident underscores critical security concerns within DeFi and highlights weaknesses in its infrastructure. 🔒 The attacker’s wallet remains active and continues to complicate efforts to recover assets. 💸 ❌