Sui Network Frozen: Decentralization in Crisis – The Impact of a Crypto Hack

The cryptocurrency world recently witnessed a major DeFi hack affecting the Sui network, leading to significant controversy regarding the balance between decentralization and security. A staggering $160 million was stolen from the Cetus DEX, prompting swift action by the Sui Foundation, who froze the assets on the blockchain. However, this intervention sparked heated debate over whether such centralized control undermines the very principles of a decentralized network.