Coin Of The Day: SUI Wobbles After Exploit—Can It Rebound?
A major security breach has rocked the Sui (CRYPTO: SUI) blockchain ecosystem, as leading decentralized exchange Cetus Protocol suffered a $223 million exploit involving spoofed tokens. Can the SUI price bounce back?
What Happened: Attackers manipulated price oracles to siphon real assets like SUI and USDC from liquidity pools, prompting an emergency halt of smart contracts and a sharp plunge in CETUS’s market value.
According to a statement, approximately $162 million of the stolen assets have since been frozen on-chain, but the rest has been laundered through bridge paths and remains unrecovered.
In response, the Sui Foundation issued a critical financial loan to Cetus to help immediately begin compensating users for their losses—particularly those tied to bridged assets.
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