Cetus Protocol Moves Towards Open Source After Major Exploit

According to Cointelegraph, Cetus Protocol, a decentralized exchange native to the Sui blockchain, is transitioning to an open-source model following a significant security breach in May that resulted in a $220 million exploit. The attack, which occurred on May 22, exploited a flaw in the pricing mechanism, allowing the attacker to drain tokens from the exchange's major liquidity pools. In response, Cetus managed to freeze $162 million of the stolen funds shortly after the incident. Prior to the attack, Cetus had been experiencing a surge in trade volume, with over $5 billion recorded in both April and May, despite the shutdown following the exploit source: https://www.binance.com/en/square/post/25367772215745?utm_source=BinanceNewsRSS