🛡 $SUI invests $10 million in security after the Cetus hack
💧 After the hack of DEX Cetus, during which $223 million was withdrawn, the Sui ecosystem announced a large-scale security reform. The platform allocates $10 million for this purpose — for audits, bug bounties, formal verification, and dev tools.
✔️ The key focus is shifting responsibility from individual protocols to the resilience of the entire network. This is not so much a PR move as it is a reframing of trust: the Cetus library was affected, but the consequences hit the entire Sui.
📉 Market reaction:
— 🔻 $SUI fell by ~10%
— 🔻 TVL dropped from $2.1 billion to $1.5 billion
📌 Conclusion:
Even if the vulnerability was not in the blockchain itself, the market punishes everyone. The loss of trust is instantaneous. $SUI is taking the right step by turning the incident into an opportunity to strengthen security standards. But the lesson is clear: in DeFi, capital runs away faster than explanations.
💧 After the hack of DEX Cetus, during which $223 million was withdrawn, the Sui ecosystem announced a large-scale security reform. The platform allocates $10 million for this purpose — for audits, bug bounties, formal verification, and dev tools.
✔️ The key focus is shifting responsibility from individual protocols to the resilience of the entire network. This is not so much a PR move as it is a reframing of trust: the Cetus library was affected, but the consequences hit the entire Sui.
📉 Market reaction:
— 🔻 $SUI fell by ~10%
— 🔻 TVL dropped from $2.1 billion to $1.5 billion
📌 Conclusion:
Even if the vulnerability was not in the blockchain itself, the market punishes everyone. The loss of trust is instantaneous. $SUI is taking the right step by turning the incident into an opportunity to strengthen security standards. But the lesson is clear: in DeFi, capital runs away faster than explanations.