Crypto Chaos! Cetus DEX Strikes Back After $223M Heist! 🚀💰

by

Crypto Chaos! Cetus DEX Strikes Back After $223M Heist! 🚀💰

Cetus Logo with a comeback banner

What to know:

  • Well, folks, Cetus Protocol is back from the digital grave after a 17-day snooze, thanks to a monster exploit that stole $223 million. But don’t worry, they got $162 million back — it’s like a bad marriage, but with more zeros!
  • Sui swooped in with a rescue loan faster than you can say “DeFi Disaster,” helping users recover their wallets. Liquidity pools? They’re more filled than Grandma’s gravy — 85-99% of the original stash!
  • And the big shot? The total value locked (TVL) rebounded to $124 million — still a big fall from the glory days when it was a whopping $284 million. Ouch! That’s like losing your hair and everything else, but hey, at least they’re still trading!

Sui-based decentralized exchange (DEX) Cetus Protocol thought it was invincible… until a sneaky hacker exploited a flaw in their shared math library, convincing the platform that a tiny token was actually worth the price of a small island. Classic case of “if it looks too good to be true, it probably is.”

The attacker, busy laundering funds through Tornado Cash — because who doesn’t love a good cloak-and-dagger routine? — refused to negotiate, so the legal game is underway. Meanwhile, Sui stepped in with a lifeline, issuing a loan on May 28 to help users pick up the broken pieces of their portfolios.

Liquidity pools are back, baby! They now sit at 85-99% of where they used to be — close enough to make you forget the chaos, or at least pretend you do. Traders can now breathe easier, slippage not included.

And about that token? The CETUS token took a nosedive of 44% in the last month — mostly because everyone loves a good comeback story, but hates losing their breakfast. It’s down just a smidge (1%) in the last 24 hours. Hey, even crypto needs a nap sometimes.

Read More

2025-06-09 15:47