Crypto Chaos: Cetus Protocol Hit by $223M Hack, Offers Hackers a $6M “Bounty” Deal
Hackers had a field day exploiting a smart contract flaw, draining $223 million from Cetus Protocol. In a move straight out of a cyber-thriller, they manipulated pool prices and executed multiple heists. Cetus paused the contract, freezing $162 million, and offered a $6 million bounty for the return of the loot.
Hot Take:
Looks like someone should’ve checked the locks on the digital vault! Cetus Protocol’s $223 million hack is a crypto caper worthy of a Hollywood script. Maybe next time, they should hire Ocean’s Eleven to protect their assets.
Key Points:
- Hackers exploited a vulnerability in Cetus Protocol’s smart contract, stealing $223 million.
- The heist involved manipulating liquidity pool prices using an open-source library flaw.
- Stolen funds were first swapped to stablecoins, then moved to the Ethereum blockchain.
- Cetus managed to freeze $162 million of the stolen assets.
- The exchange is working on recovery plans and offered hackers a “whitehat settlement.”
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