Sui Network Suffers $200 Million Theft, Hacker Difficulties Loom

A significant security breach has affected the Sui Network, with approximately $200 million stolen from the Cetus smart contract wallet, according to analysis by SlowMist’s Cosine and reported on the X platform. The perpetrators of this heist face challenges in converting the stolen funds into more stable assets and transferring them across different blockchains. Efforts are underway to track down the individuals responsible for the theft.