SUI, a popular layer -1 block chain that combines Web3 with Web2, is facilitating violations in one of the most popular distributed exchanges (DEX). CETUS, a DEX platform native of the SUI chain, has a $ 300 million hack and the hacker has greatly discharged DEX’s liquidity.
A prominent encryption person, such as Binance founder Changpeng’s Cz’zhao, is still to help developers of $ 290 million. The hacker has begun to convert to the Circle USD (USDC), a popular Starble recoe.
Currently, the total value of SUI L-1 has decreased 20.5% over the last 24 hours, pushing SUI Network tvL to less than $ 2 billion. Cetus protocol sank the tokens to 21.2%, and the native meme coins decreased at least 35% after events such as Double Up (UP), Slove (SLOVE) and Lofi (Lofi).
What happened to the Sui Cetus Dex?
The official message of the CETUS protocol of X suggests Oracle bugs. Then the developer team immediately quotes safety reasons and declares that it has temporarily suspended all operations of the smart contract. In addition, more details will be announced, and the team said after an hour after the incident.
But the popular concept is that this is not a technical bug, but rather an intentional attempt to produce the liquidity pool of all CETUS protocols in the SUI by using a multi -level exploit method for dirty tricks. It is one of the most likely options to use the wrong calculated SUI native token price curves or broken preliminary mathematics.
Digging into a hot chain record, Daily coin The hacker crossed the SUI to Ethereum and knew that it was washed with $ 60 million in the process. In addition, the scammer purchased 2,938 ETHs in Ether Leeum (ETH) for $ 2,658. This encryption wallet now has $ 8.6 million worth of encryption, mostly in Ether, a competitor of the SUI L-1 network.
on the other way
- The price of SUI Crypto Native Coin has witnessed a soft drop of less than 5% due to liquidity, but investors are afraid of domino effects.
- As the hacker switched everything to Altcoin, a $ 260 million drain had a positive effect on Ethereum (ETH) prices.
Why this is important
This scale of security violations can not only destroy the emotions of the price of the SUI, but also develop into a significant liquidity crisis.
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