May 22, 09:40 PM

Sui Validators Freeze $160M After $400M DEX Exploit, $60M Moved to Ethereum

The Sui blockchain and its validators, along with several protocols, have responded to an exploit in which approximately $223 million was stolen. Sui entities have frozen between $160 million and $162 million of the compromised funds by locking the exploiter's addresses, with every validator reportedly deploying code to recover the assets. Reports indicate that $60 million of the stolen assets were bridged to Ethereum, where validators did not intervene to halt the transactions. The exploit targeted a decentralized exchange (DEX) on the Sui blockchain, with the total amount compromised reported as high as $400 million by some sources. Observers have noted that the rapid freezing of funds on Sui sets a bad precedent for decentralization, as it demonstrates a capacity for centralized intervention.

#Sui #Ethereum

Written with ChatGPT (GPT-4).

Sources

daddy fiskantes ⭐️🩸@Fiskantes
1 year ago
Unpopular opinion: Good. - There is a space for centralised, fast user and dev friendly chain, not everything needs to be ETH - next time Hackers will prefer other targets if they see this as precedent on SUI - Avg SUI target user probably appreciates such protection vs hacks https://t.co/5GafQuncan
Tyler@TylerDurden
1 year ago
SUI froze 160million of the hackers assets. Sets a bad preceden.
jmo@cuntycakes123
1 year ago
look like sui got every validator to deploy code to recover the $160m hack. muh decentralization lol

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