Cetus Protocol, SUI network’s largest decentralized exchange (DEX) and liquidity provider, has suffered a massive $260 million hack. The SUI price is down nearly 15% and is currently trading at $3.81. Binance founder CZ has promised his support and assured investors he is doing all he can. SUI’s Cetus Hit by $260M Hack: Details As revealed by Lookonchain, Sui’s Cetus DEX has been exploited by a hacker, whose wallet address is identified as “0xe28b50.” Reportedly, the attacker holds over 12.9 million SUI, valued at about $54 million. Lookonchain further uncovered that the attacker is laundering the stolen funds by converting them to USDC. Later, they transferred approximately $60 million worth of USDC to the Ethereum blockchain, where they’re being exchanged for ETH. Analyst Ted also confirmed that the hacker has already bought $60 million worth of ETH tokens. Following the incident, the Cetus team has paused its smart contracts and… Read More at Coingape.com
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