After a $223 million hack that hit Cetus Protocol, Sui just announced a $10 million investment aimed at strengthening the security of the entire ecosystem.
While the exploit came from a bug in the protocol, not the Sui blockchain itself, they’re taking no chances.
Security breaches are becoming increasingly common in the cryptocurrency space. On May 22, Cetus Protocol, the largest decentralized exchange on the Sui blockchain, was hacked, resulting in a staggering $223 million in stolen digital assets.
CNF highlighted that the exploit didn’t stem from a flaw in the Sui network or its Move programming language. The hackers took advantage of vulnerabilities in Cetus’ smart contracts. The attacker was able to slip spoof tokens into the protocol’s liquidity pools, draining real assets in the process.
To recover what was lost, Cetus put a $6 million “white hat” bounty on the table, hoping to encourage the return of the stolen assets, including $56 million in ETH and funds fr
