Sui Ecosystem Rocked by $200M ‘Oracle Manipulation Attack’ on Its Largest DEX

SUI loses $1B in market cap, liquidity pools drained within hours of attack

SUI loses $1B in market cap, liquidity pools drained within hours of attack Yesterday’s attack on Sui’s largest on-chain exchange, Cetus, threatened to cause $200 million or even $1 billion worth of digital asset losses. An initial statement from Sui estimated the stolen dollar value at $223 million, although the value was in flux by the hour as prices moved and crime fighters froze contracts. Other researchers estimated $260 million was stolen …

Sui Ecosystem Rocked by $200M ‘Oracle Manipulation Attack’ on Its Largest DEX - WorldNL Magazine

In brief Attackers exploited vulnerabilities in Cetus Protocol's smart contracts using spoof tokens to manipulate price calculations and drain liquidity pools on Sui's largest decentralized exchange. Popular Sui tokens including Lofi, Sudeng, and Squirtle plummeted 76-97% within an hour, while the Cetus token itself dropped 53% as 46 Sui tokens posted double-digit losses. The attacker has $164 million in a Sui wallet and already bridged $61.5 mi…

Sui Ecosystem Rocked by $200M ‘Oracle Manipulation Attack’ on Its Largest DEX

Tokens in the Sui ecosystem have been sent tumbling due to a $200 million oracle exploit that led to liquidity pools being drained.