tldr; Cetus, a decentralized exchange on the Sui blockchain, was reportedly exploited for over $260 million. The attacker converted stolen assets into USDC, bridged $60 million to Ethereum, and purchased 21,938 ETH. The breach caused significant value drops in Sui-based tokens like LBTC, AXOL, and LOFI. Cetus paused its smart contracts and launched an investigation. Binance has offered support to the Sui team. The incident highlights vulnerabilities in blockchain protocols and their impact on token values.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Dongerated on
A normal day in Crypto
MonarchMagnetic on
They managed to freeze 200M lost 60M.
JustStopppingBye on
If youve been in this space long enough, youll start to realize that if the Defi protocol does not use Chainlink, you need to stay far away from it. Pyth are scammers and they are determined to steal your money by posing as a safe oracle solution. Jump crypto are investors in Pyth, Mysten Labs and wormhole (also suffered a $330M hack)
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tldr; Cetus, a decentralized exchange on the Sui blockchain, was reportedly exploited for over $260 million. The attacker converted stolen assets into USDC, bridged $60 million to Ethereum, and purchased 21,938 ETH. The breach caused significant value drops in Sui-based tokens like LBTC, AXOL, and LOFI. Cetus paused its smart contracts and launched an investigation. Binance has offered support to the Sui team. The incident highlights vulnerabilities in blockchain protocols and their impact on token values.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
A normal day in Crypto
They managed to freeze 200M lost 60M.
If youve been in this space long enough, youll start to realize that if the Defi protocol does not use Chainlink, you need to stay far away from it. Pyth are scammers and they are determined to steal your money by posing as a safe oracle solution. Jump crypto are investors in Pyth, Mysten Labs and wormhole (also suffered a $330M hack)
[https://www.businesswire.com/news/home/20220908005607/en/Mysten-Labs-Raises-%24300-Million-to-Onboard-Next-Billion-Users-to-Web3](https://www.businesswire.com/news/home/20220908005607/en/Mysten-Labs-Raises-%24300-Million-to-Onboard-Next-Billion-Users-to-Web3)