Emergency Vote Called After Hackers Freeze Cetus Protocol
Cetus Protocol, a decentralized exchange and liquidity protocol operating on the sui blockchain, has been compromised by hackers, prompting an emergency vote. The breach has frozen the protocol, raising concerns over security vulnerabilities in decentralized finance platforms.
The incident underscores the persistent risks in the DeFi sector, where smart contract exploits and liquidity attacks remain prevalent. Market participants are closely monitoring the situation for potential Ripple effects across interconnected protocols.