Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Cetus Protocol Secures Stolen Funds After Major Exploit

Cetus Protocol Secures Stolen Funds After Major Exploit

TokenTopNewsTokenTopNews2025/05/23 02:40
By:TokenTopNews
Key Points:

  • Cetus Protocol suffers $223M security breach.
  • $162M paused amid recovery efforts.
  • SUI prices drop significantly following the hack.
Cetus Protocol Secures Stolen Funds After Major Exploit

The breach at the core decentralized exchange on the Sui network highlights vulnerabilities within DeFi, prompting significant market concern.

Main Content

The Incident:

The Cetus Protocol experienced a widespread security breach, affecting its SUI/USDC pool. Reported losses exceed $223 million. Immediate action was taken to halt smart contracts as investigations unfold.

Recovery Efforts:

The Cetus team, alongside the Sui Foundation, aims to recover stolen funds. Investigations focus on exploited vulnerabilities. “We are currently investigating the situation and have suspended our smart contracts to address the vulnerability,” a statement from the Cetus Protocol team confirmed. Collaboration with Changpeng Zhao underscores industry concern and support.

Market Impact:

The hack significantly impacted the SUI token’s market value, with prices plunging up to 90% on certain trading pairs. Trading was temporarily stopped on the platform to mitigate further damage.

Community and Industry Response:

This exploit not only affects investors but also underscores broader system vulnerabilities. It illustrates the risks inherent in relying on decentralized financial infrastructures.

Lessons Learned and Future Measures:

While historical examples include DeFi protocol exploits, this incident spotlights vulnerabilities in liquidity pools. It challenges platforms to enhance security to avoid future breaches.

Security Insights:

Industry experts emphasize the importance of evaluating on-chain dynamics. Enhanced oracle systems and better liquidity management are essential to prevent future exploitations. Alex Horlan, CTO at HackenProof, noted, “The attacker likely used a near-zero liquidity injection to manipulate the pools’ internal state. This allowed them to extract valuable SUI and USDC tokens without contributing real assets.”

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

SLPUSDT now launched for futures trading and trading bots

Bitget Announcement2025/07/23 11:57

Notice: Maintenance for VND deposit service

Bitget Announcement2025/07/21 12:30