Sui Token Starts to Recover After $223 Million Exploit on Its Biggest Decentralized Exchange
Summary
Sui's native token, SUI, began recovering after a $223 million exploit of the Cetus decentralized exchange on its blockchain. SUI fell from $4.18 to $3.82 but was recently trading at $3.89, down 3.7% over 24 hours. The attack siphoned digital assets from Cetus' liquidity pools, with the connected wallet holding about $37 million. Cetus paused smart contracts to prevent further theft and is working to recover funds. The DeFi sector has faced increasing cyberattacks, with $2.2 billion stolen in 2024. Other Sui ecosystem tokens like Lofi, Sudeng, and Squirtle remain significantly down.
