scallop

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Current Price: **$0.004065**
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Once momentum kicks in, the path is clear:

🟢 Immediate Target: $0.0080
🟢 **Mid-Term Targets:** $0.0094 → $0.0100
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⚡ MACD – FRESH BULLISH CROSSOVER!

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· Histogram turned POSITIVE at +0.0000370

✅ This is a classic momentum shift. The bears are losing steam, and the bulls are quietly accumulating at the bottom.

📌 The Trigger:
A daily close above **$0.00430** will likely ignite the next leg up, sending price soaring toward the $0.0080 - $0.0121 range.

The setup is here. Breakout incoming? 👀

@CZ _binance @vitalikbuterin @justinsuntron @brian_armstrong @BillyM2k @Scallop_io @SuiNetwork @lookonchain @WhaleFactor @loomdart @Zeneca @JamesWynnReal

#SCA #scallop #crypto #BullishMay #MACD #Binance #DeFi #SuiNetwork

🚨 Alert: #scallop has suffered a vulnerability attack, losing 150,000 $SUI .
The affected contracts have been frozen, and Scallop will fully compensate the losses.

Scallop just got exploited for 150,000 SUI.

The vulnerability was in a deprecated rewards contract.

A contract the team already knew was old.

Here's the full read and why the response matters as much as the incident.

Deprecated contracts are the ghost infrastructure of DeFi.

They're old code. Replaced. Superseded.
But still sitting on-chain. Still executable. Still dangerous.

Scallop's team froze the module quickly.
Core funds confirmed unaffected.
Operations already resumed.
And they pledged to cover 100% of user losses.

That last part is rare. And it matters.

Most DeFi exploits follow a predictable script:

Hack occurs. Team goes quiet. Community panics.
Post-mortem published 3 days later. Partial refunds promised. Never fully delivered.

Scallop did the opposite.

Fast freeze. Full transparency. Complete coverage. Operations resumed.

That's not damage control. That's protocol maturity.

Now here's the broader lesson this exploit teaches again.

We flagged earlier this week that Anthropic's Mythos is raising alarms across DeFi security.

AI can now scan smart contracts for vulnerabilities faster than any human audit team.

The Scallop vulnerability wasn't in their active code.

It was in code they thought was harmless.

The most dangerous contracts in DeFi aren't the ones teams are watching.

They're the ones teams stopped watching.

Sui's stablecoin supply nearly tripled this year.
Its DeFi ecosystem is growing fast.
Fast growth and deprecated contracts are a combination the entire ecosystem needs to audit.

Scallop handled this right.

The question is who gets the next one before they do.

#Sui #DeFi #Scallop #Crypto #Security

After identifying an exploit affecting the side contract related to the sSUI Scallop prize pool, which resulted in a loss of approximately 150,000 @Sui

The impacted contract has been frozen. Our core contract remains secure, and only the prize pool $SUI I was affected. All other pools are safe.

#Scallop will cover 100% of the losses.

$SUI

🚨 SCALLOP ON SUI EXPLOITED! HACKERS DRAIN FUNDS 🚨

💥 The Incident:
DeFi protocol Scallop on the SUI chain suffered a security breach 🥷💻

📉 The Damage:
Lost total of 150,000 SUI 💰❌

✅ THE GOOD NEWS:
Team officially confirmed FULL COVERAGE! 🛡️💸
ALL USER FUNDS WILL BE 100% REFUNDED ✅

They are taking full responsibility to protect the community! 🙏⚖️

#Scallop $SUI #Hack #Exploit #DeFi #Security

🚨 BREAKING: Scallop Protocol hit by a flash loan exploit on the Sui Network. 📉
Details are emerging of a ~$142K drain targeting the sSUI reward pool via oracle price manipulation. The team has moved quickly to freeze the affected side contract and has committed to covering 100% of user losses to ensure no one is left out of pocket. 🛡️
While the core Scallop lending engine remains secure, this serves as a fresh reminder of the risks in complex DeFi reward structures.
Stay safe and keep an eye on your wallet permissions! 🕵️‍♂️ #SuiNetwork #Scallop #DeFi #BlockchainSecurity
$BTC
$SUI
$ETH

Exploit Hits Scallop

The Scallop protocol on Sui suffered an exploit on its sSUI rewards pool, resulting in a loss of ~150K SUI.

Not ideal.

But what happened next is what stands out.

The protocol has:

➠ Resumed operations quickly
➠ Committed to covering 100% of user losses
➠ Maintained transparency during the incident

This is how DeFi should evolve.
Exploits may happen that’s the reality of early-stage infrastructure.

But what separates strong protocols from weak ones is accountability and response.

➠ Protect users
➠ Communicate clearly
➠ Take responsibility

That’s how trust is built.

In a space where confidence can disappear overnight,
teams that step up during crises earn long-term credibility.

This is the standard moving forward.

$SUI

#Scallop #SUI

Someone just stole $142K from $SUI 's Scallop with zero hacking skill.

No flash loan genius.
No oracle manipulation.
No code exploit.

Just... an old contract nobody was watching. 👀
Here's how it happened 👇

#scallop runs on #sui 💧
It has a rewards pool for sSUI stakers.
They upgraded their contracts a long time ago.

But the old V2?
Still sitting on-chain.
Still callable.
Forgotten — but not dead.

On #SUI🔥 , deployed contracts are immutable.
You can't delete them.
You can't turn them off.
They just... exist forever.

The attacker found the V2 from November 2023 — 17 months old — and called it directly.
No front end. No SDK. Direct contract call.

The bug was embarrassingly simple:

Every new staking account was supposed to record a last_index — the timestamp of when someone started.

In the old V2, this was never initialized.
So the contract assumed someone had been #staking since day one.

The spool index had been running for 20 months.
It hit 1.19 billion.

Attacker staked 136K sSUI.
Contract calculated 162 trillion reward points.
Pool had 150,000 SUI at a 1:1 rate.

One transaction. Everything gone.

Scallop froze the contract.
Covered 100% of losses.
Resumed in under 2 hours.

But here's what haunts me:

The attacker then reached out and offered to return 80% for a bounty.
Which means they weren't even trying to hide.
They walked in through the front door of an empty house nobody remembered they owned.

This isn't a "$SUI problem."
This is a #defi architecture problem.

How many old contracts are sitting on your favorite protocol right now?🫵

Audited once.
Upgraded.
Forgotten.
Still alive on-chain.

The scariest hacks aren't sophisticated.
They're patient.

JUST IN: Scallop suffered an exploit and lost 150,000 $SUI ; it will cover 100% of the loss.

$SUI #scallop

🚨 DeFi Exploit Alert: 150K $SUI Stolen from Scallop Protocol

Even over the weekend, hackers remain highly active.

While the recent exploit on Kelp DAO—with losses nearing $300 million—has yet to be fully resolved, another incident has just surfaced.

➡️ This time: Scallop — one of the leading DeFi protocols on Sui

A vulnerability in a subsidiary contract مرتبط with the sSUI pool was exploited
Approximately 150,000 $SUI has been stolen

➡️ Response from the team
Scallop has announced they will fully compensate (100%) for all user losses

⚠️ Takeaway for DeFi farmers

Reassess your risk vs. reward
This phase of the market comes with increased exploit risks
Not every project will be able to cover losses like Scallop

👉 Stay cautious. Capital preservation matters more than chasing yield
$SUI #scallop

#Scallop This time, the sSUI rewards side contract exploit is a perfect case for DeFi risk management.

Here's the rundown: the Scallop sSUI rewards side contract had a vulnerability, resulting in a loss of about 150k SUI. The team later explained that the affected contract has been frozen, core contracts are secure, and other reward pools are unaffected, and they will cover the loss.

I think the most interesting point to dissect here is the 'side contract' aspect.

When many people assess DeFi security, they tend to focus on the main pool, lending core, oracles, and liquidation logic. Of course, these are important, but as protocols mature, numerous auxiliary contracts pop up: reward pools, legacy strategies, migration tools, and event contracts.

These contracts often handle smaller amounts and have lower visibility, making them more prone to becoming the tail end of issues.

So this time, I'm going to focus on the incident response process. After it happens, the protocol's reaction must be standard: first, freeze the affected contracts, confirm the status of core contracts, clarify the impact scope, and address user losses.

Each of these steps is critical.

For users, this case can also serve as a checklist: when looking at yield activities, APR is just the entry point; you also need to see which contract the funds are actually going into, where the rewards are coming from, and whether this pool is still actively maintained.

The risks in DeFi often hide in the details. Especially with old contracts left over after upgrades, reward pools with balances post-activity, or small modules that haven't been mentioned in a while.

I actually think such incidents have high educational value. For the ecosystem to attract larger funds, we can't just focus on the usual yield stories; we also need to observe how each protocol handles issues when they arise.

Dissecting such cases multiple times will give everyone a greater sense of the risks in DeFi.

SCALLOP PROTOCOL HACKED: 100% COMPENSATION COMMITMENT FOR LOSSES 🏦🔐🛡️

Security breach: #scallop , the leading lending protocol on the Sui ecosystem, has just confirmed that a smart contract related to the sSUI reward pool has been compromised by hackers. The total estimated loss is around 150,000 Sui. ⚠️💸

Damage control: Immediately upon discovery, #ScallopLend promptly froze the affected contract. Notably, the main contract and other asset pools were completely unaffected, ensuring the majority of user capital remains safe. 🧊🛡️

Ultimate responsibility: The Scallop development team has issued an official statement taking full responsibility for this incident. They are committed to compensating all losses to users impacted by this security flaw. 🤝💎

Extended investigation: Currently, the protocol is working with security units to delve deeper into the vulnerability and prevent similar risks in the future. 🕵️‍♂️🔍

Although this incident has caused some concern within the Sui community, the swift response and compensation commitment from Scallop have helped stabilize investor sentiment, reaffirming the protocol's credibility in protecting user interests.
$SCA $SUI