Sui Spills the Beans on Cetus Hack & Throws $10M for Security — Who’s Counting? 🤡

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The Sui network, ever the paragon of transparency, has deigned to release a post-mortem—probably while sipping chamomile—to explain the $260 million Cetus disaster that last week managed to shake the crypto universe like a particularly violent maraca. Evidently, the cause was not a nefarious flaw lurking in the depths of Sui itself or some cunning quirk in the Move programming language, but a humble bug in the protocol’s mathematics—aPlato’s cave of digital snafus. 🚀

In an X post—because what’s more official than a social media announcement?—Sui declared that the root cause was “not a vulnerability,” which, given the current state of crypto security, is probably a matter of semantics. They’ve announced a generous $10 million slush fund—er, a security upgrade—to bolster defenses, thus making it less likely that their ecosystem will implode in the manner of a Victorian tea service at high tide. 💸

The aforementioned Cetus Protocol, known for being the biggest DEX and liquidity provider in the universe, suffered a tidy $223 million hack. Not to worry, though, for the network was quick to freeze $162 million—because who doesn’t enjoy a good freeze—while Cetus scrambled to put out the digital fire and hope that the authorities in the cryptosphere don’t start questioning their security practices. 🕵️‍♂️

All in all, it’s a brilliant lesson in humility—or perhaps just another story to later embellish with anecdotes at the next blockchain ball. Read more at Coingape.com—if you can stomach the excitement.

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2025-05-27 02:25