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Cetus DEX Releases Post-Mortem After $223M Exploit on Sui Network
Cetus DEX Releases Post-Mortem After $223M Exploit on Sui Network
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Cetus, a decentralized exchange operating on the Sui blockchain, has disclosed a comprehensive post-mortem following a $223 million hack on May 22. The breach targeted its concentrated liquidity market Maker pools, exploiting a vulnerability in an open-source library embedded in its smart contracts.
The attacker manipulated flash swaps—a feature allowing instant token loans—to distort pool prices and siphon funds. Cetus confirmed the flaw resided in its liquidity management system, which governs user deposits and withdrawals. Recovery efforts are underway, though the incident underscores persistent risks in DeFi’s reliance on unaudited code.
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