Cetus, a decentralized crypto trade (DEX) constructed atop the Sui blockchain community, stated $162 million of over $220 million stolen in a Could 22 hack has been frozen.
Based on the Cetus crew, the DEX is working with the Sui Basis and different entities throughout the ecosystem to recuperate the rest of the funds. The Sui Basis additionally confirmed:
“A lot of validators recognized the addresses with the stolen funds and are ignoring transactions on these addresses till additional discover. The Cetus crew is exploring paths to recuperate these funds and return them to the group.”
The Cetus hack is the newest in a string of such incidents impacting crypto and Web3 within the first half of 2025. Cybersecurity continues to be a serious concern in crypto, with many business executives calling for the sector to police itself and set up extra strong defenses or danger elevated regulatory scrutiny.
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The Cetus hack: the story thus far
On Could 22, the Cetus DEX was hacked in what’s believed to be a sensible contract code exploit that noticed the DEX drained of roughly $223 million in person funds.
Based on the crew behind the Extractor Web3 safety notification device, $63 million of the stolen funds had been bridged to the Ethereum community.
The Extractor crew additionally recognized a pockets handle ending in “AF16” utilized by the risk actors to launder 20,000 Ether (ETH), valued at roughly $53 million.
The restoration efforts and the asset freeze coordinated by totally different initiatives, platforms, and validators within the Sui ecosystem drew blended reactions from the crypto group.
“Excellent news for the victims, but when validators, 114 solely in complete, can freeze wallets when they need, it raises a serious query concerning the community’s censorship resistance. Sui is something however decentralized,” one person wrote in response.
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