The Cetus Protocol, facing a devastating $223 million exploit of its decentralized exchange on the Sui Network, has announced a bounty program for the perpetrator. This incident exposes vulnerabilities in DeFi ecosystems and significantly impacted investor confidence. The attack involved oracle manipulation and flawed liquidity calculations, causing substantial losses of SUI and USDC. The Cetus team is collaborating with the Sui Foundation and Binance to recover funds. While approximately $162 million in assets have been frozen, efforts are ongoing to recover the remaining funds. This significant attack has led to a sell-off across affected tokens including CETUS and SUI, resulting in steep declines in total value locked (TVL). 😥 Concerns surrounding systemic risks within the Sui Network are mounting as investors call for increased security measures within DeFi protocols.