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$260 Million Cetus Hack on Sui Triggers Network Freeze—Critics Question Decentralization
$260 Million Cetus Hack on Sui Triggers Network Freeze—Critics Question Decentralization
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A $260 million exploit on Sui-based decentralized exchange Cetus has reignited debates about blockchain decentralization. The project froze smart contracts post-hack—a MOVE experts argue contradicts core Web3 principles.
Jesus Martinez of Legion declares this proof centralized control exists: "Decentralization is a lie." The breach exposes tension between security pragmatism and ideological purity in LAYER 1 networks.
Cetus has offered a whitehat agreement to recover funds, but the damage to Sui’s credibility may linger. Market observers note such incidents test investor confidence in newer smart contract platforms.
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