SlowMist Analyzes Cetus Protocol Exploit Impacting SUI Token
- SlowMist reports Cetus Protocol’s vulnerability exploited.
- SUI token affected due to precision issue.
- Investigation underway, no recovery reported.
SlowMist, a blockchain security firm, has identified a calculation precision vulnerability in the Cetus Protocol, leading to an exploit involving 24 million SUI tokens on the Sui blockchain.
The Cetus Protocol exploit underscores persistent risks in DeFi systems, particularly precision errors. This incident has led to concerns within the DeFi community regarding protocol security standards.
SlowMist’s investigation into the exploit highlights a calculation precision issue within the Cetus Protocol. The breach has been publicly analyzed by SlowMist’s CISO through a Twitter statement:
The investigation is underway with no asset recovery reported so far.
The primary asset affected in the Cetus incident is the SUI token. Following the exploit, a transfer of 24 million SUI tokens was identified. This development raises concerns over the potential liquidity impact on associated DeFi protocols.
The exploit may have broader ramifications on the DeFi industry, causing downward pressure on SUI token prices. Historical trends demonstrate that similar vulnerabilities have often resulted in swift attempts to freeze or recover stolen assets.
Financial specialists suggest that the incident could trigger heightened scrutiny of DeFi protocol coding practices. SlowMist’s continued collaboration with global security entities may strengthen efforts to improve platform integrity and prevent similar vulnerabilities.
@im23pds, Chief Information Security Officer, SlowMist, – “The preliminary analysis of the Cetus theft suggests a vulnerability caused by a calculation precision issue.” source
