<ul><li>A hack on the Sui ecosystem's liquidity provider, Cetus, led to the draining of over $200 million, causing panic and significant price crashes for various memecoins and the Cetus token.</li><li>Cetus confirmed that approximately $223 million was stolen, with $162 million frozen, and they are working on recovering the remaining funds in collaboration with partners.</li><li>Binance co-founder, CZ, announced that Binance is actively assisting Sui in this situation, offering support that may include rescue measures, technical assistance, or financial aid through Binance's SAFU fund.</li><li>The attacker exploited a smart contract flaw by using fake tokens, prompting the protocol to pause the contract temporarily. Criticism was directed at Circle for slow response times in freezing stolen funds, highlighting the urgency of real-time actions in such incidents.</li></ul>

Cetus Hack Drains $223M from Sui Network, Binance Steps In to Help

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