The largest decentralized exchange (DEX) and liquidity protocol on the layer-1 blockchain Sui (SUI) is temporarily disabling its smart contracts following a major security breach.
In a statement, Cetus Protocol confirms that a bad actor siphoned approximately $223 million worth of assets from the platform.
The DEX says it has already taken measures to prevent further theft and secure the majority of the impacted funds.
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“$162M of the compromised funds have been successfully paused. We are working with the Sui Foundation and other ecosystem members right now on next-step solutions, with the goal of recovering the remaining stolen funds.”
According to Sui, a large number of validators are already ignoring transactions on addresses with the looted assets. Meanwhile, the blockchain security firm SlowMist says some
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