Growing cybersecurity incidents give rise to grave worries in the cryptocurrency community. An estimated $223 million in user funds were lost in a hack on May 22 that occurred on the Cetus DEX and was believed to be caused by a problem with the smart contract code. The largest decentralised exchange (DEX) and liquidity provider on the network, Cetus Protocol, experienced a $223 million cryptocurrency theft last week. While Cetus issued a $6 million bounty to collect the remaining $60 million in stolen funds, the network managed to freeze $162 million.Sui Offers A Report Regarding The Cetus HackRegarding the reason behind the $260 million hack that rocked its ecosystem last week, the network has published an in- depth study. A fault in a math library used by Cetus, rather than a flaw in Sui or Move, was the primary cause of the disaster, according to the post-mortem analysis. $SUI is a Layer-1 blockchain project, while Move is a programming language for making smart contracts on several blockchain systems.In addition, the paper noted that the network was built to...
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