Latest news with #CetusProtocol
Yahoo
4 days ago
- Business
- Yahoo
Crypto Investors Lost $2.5B to Hacks and Scams in the First Half of 2025: Certik
Hackers stole more than $2.47 billion worth of cryptocurrency in the first half of 2025, already exceeding last year's total of $2.42 billion, according to Certik's Hack3d Report. The majority of that figure can be attributed to two incidents; the Bybit breach and the Cetus Protocol exploit that combined were worth $1.78 billion. Wallet compromise was the key attack vectors for hackers in the first half of this year, contributing to $1.7 billion worth of losses, while phishing was still rampant resulting in $410 million stolen across 132 incidents. Phishing is a technique hackers use to steal a victim's password or credentials in order to access an account. 'While the overall figures are alarming, it is important to point out that the majority of the funds lost in H1 were attributable to two concentrated, high-impact events,' said CertiK co-founder Ronghui Gu. 'But regardless, the results serve as another reminder to the industry that there is still much work to be done,' Gu added. The report also found that $801 million was lost in Q2 alone, a 52% decrease from the previous quarter. The majority of hacks took place on Ethereum, with $1.5 billion stolen across 164 incidents, followed by Bitcoin with $373 million stolen across 10 incidents. Sign in to access your portfolio
Crypto Insight
09-06-2025
- Business
- Crypto Insight
Sui DEX restarts, plots open-source move after massive exploit
Cetus Protocol, a Sui-native decentralized exchange that suffered a huge $220 million exploit in May, says it is now working on going open-source following its recent relaunch. An attacker exploited a pricing mechanism flaw to drain tokens from Cetus' major liquidity pools on May 22. The protocol managed to freeze $162 million of the stolen funds shortly after. Trade volume on Cetus had been trending upward before the attack, registering over $5 billion in April and another $5 billion in May, despite shutting down after May 22. Cetus liquidity pools replenished with loan and reserves In a June 7 Medium post, a day before its relaunch, the Cetus team said it's moving toward being fully open-sourced, with a new white bounty program, to 'encourage collective technical and security contributions.' As part of the relaunch, the team says it 'worked around the clock' and patched the software vulnerability, which allowed the hack, restored pool data to the correct pricing and conducted security audits on all code fixes and contract upgrades. Affected liquidity pools were replenished using a combination of $7 million in cash reserves, a $30 million USDC loan from the Sui Foundation and some of the recovered assets from the attacker. However, not all affected pools were fully restored, with the current recovery rate between 85% and 99%, depending on how much pool was drained during the attack, according to the Cetus team. Cetus sets aside tokens for compensation plan As part of a compensation plan for affected users, 15% of the protocol's native token supply, CETUS, is being set aside, with 5% available immediately and 10% linearly unlocked every month over the next year, starting June 10. The Cetus token is down over 12% in the last 24 hours, trading at $0.11, according to CoinGecko. There are also plans to upgrade the protocol monitoring system and have additional rounds of security audits. Protocol is still chasing funds Cetus said legal action is still on the cards, with legal proceedings launched in 'multiple jurisdictions' and law enforcement agencies 'actively involved' as well. 'The attacker ignored our previous white hat offer and has begun attempting to launder assets — a futile and traceable act. We are highly confident that successful arrest and recovering the remaining assets is only a matter of time,' the team said. The day after the hack, Cetus offered a white hat bounty of up to $6 million to the exploiter if they returned the stolen 20,920 Ether, worth over $55 million, along with the $162 million in stolen funds frozen on the Sui blockchain. Source:
Yahoo
02-06-2025
- Business
- Yahoo
$302 Million Lost to Crypto Scams, Hacks, and Exploits in May: CertiK
Cryptocurrency investors lost more than $300 million to scams, hacks and exploits in May, according to blockchain security firm CertiK. The majority of those losses were related to code vulnerability exploits, which accounted for $229 million -- a 4,483% rise on April. Phishing, which involves an attacker stealing a user's trading account or wallet credentials, accounted for $47 million of losses while private key compromise and price manipulation were behind $11.6 million and $1 million of losses respectively. 'Our research revealed an interesting anomaly in May: a significant increase in losses from code vulnerabilities, which represented a majority of exploited funds', said CertiK senior blockchain security researcher Natalie Newson. "It is important to point out that over the fast few years, losses from code vulnerabilities have decreased significantly. In 2024 $173 million was lost to code vulnerabilities, compared with $1.3 billion in 2021." The largest incident of all in was the Cetus Protocol exploit that prompted Sui to controversially pause the blockchain as attackers made off with $225 million. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
SUI Plunges 6% Overnight Before Buyers Step in at $3.40 Support
The cryptocurrency market faces headwinds as geopolitical tensions and security concerns weigh on investor sentiment. SUI's sharp overnight decline coincides with broader market uncertainty, though strong buyer interest emerged at support levels around $3.40-$3.42. Meanwhile, the Sui community has rallied behind Cetus Protocol's recovery efforts following its recent hack, with validators overwhelmingly approving a plan to return frozen funds to affected users. SUI-USD dropped precipitously from $3.59 to a low of $3.38 during the midnight hour with extraordinary volume (24.8M) - more than triple the average hourly trading activity. The overall range of $0.225 (6.25%) demonstrates substantial market uncertainty, with price finding support at $3.40-$3.42 on high volume, suggesting strong buyer interest at these levels. Following the sharp decline, SUI has established a recovery pattern, forming an ascending channel with resistance around $3.50, though momentum appears to be waning as evidenced by the recent rejection at $3.48 with increasing selling pressure. Price action formed a descending channel from $3.48 to a low of $3.42, with notable support emerging at $3.43. Volume spiked dramatically at 14:00, reaching 545,865 units—nearly 4x the hourly average—coinciding with a strong bounce from $3.43 to $3.44. The subsequent rejection at $3.44 and retracement to $3.43 suggests the formation of a potential range-bound pattern, with immediate resistance at $3.44 and support at $3.43, indicating market indecision following the earlier sharp decline.
Yahoo
30-05-2025
- Business
- Yahoo
SUI Plunges 9% Amid Flash Crash and Extraordinary Selling Volume
SUI plummeted 9.25% from $3.72 to $3.38, with heaviest selling during midnight hours UTC on volume 78% higher than daily average The recent correction comes amid broader geopolitical tensions affecting cryptocurrency markets globally. While Bitcoin has shown resilience above critical resistance zones, SUI has faced downward pressure despite strong fundamentals. The Cetus Protocol exploit that resulted in $223 million in stolen assets (with $162 million frozen) has created uncertainty, though the Sui community appears poised to approve a recovery plan with 71% of validators already voting "yes" to return the frozen funds. SUI-USD dropped from a high of $3.728 to a low of $3.383, representing a 9.25% correction. Strongest selling pressure occurred during the midnight hour (00:00) with 4.0% price drop on 78% higher-than-average volume. Strong resistance established at $3.55 level. Recovery attempts visible at $3.42 support with above-average volume during 01:00-02:00 period. Lower highs forming a descending trendline, indicating continued bearish pressure. Flash crash occurred between 09:37-09:38, with price plummeting from $3.45 to $3.40. Extraordinary volume of 4.3 million units recorded during the flash crash. V-shaped reversal pattern formed, reclaiming approximately 60% of losses. Price stabilization around $3.43-$3.44 range. Key support at $3.40 showing substantial buying interest across multiple timeframes. New resistance formed at $3.45-$3.46, creating a consolidation range. Diminishing selling pressure suggests potential near-term stabilization.
