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@ Cointelegraph - Layer3.news AI summary
2025-05-25 22:20:52
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✍️ The Cetus decentralized exchange was hacked, resulting in the theft of $223 million in user funds, with $163 million frozen by Sui network validators and ecosystem partners.
👉 The Cetus decentralized exchange was hacked, resulting in the theft of $223 million in user funds.
👉 The hack was caused by an exploit of the liquidity parameters used by the Cetus automated market maker (AMM).
👉 The hackers manipulated the values for the liquidity parameters by orders of magnitude, allowing them to establish large positions with a single keystroke.
👉 The incident highlights the importance of establishing safeguards and protecting users in the crypto and Web3 industry.
#technology
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