Details of the 230 Million Dollar Hack Incident in This Altcoin Have Emerged: Hackers Have Used an Incredible Method!

Blockchain security firm SlowMist has published an official analysis report detailing the $230 million attack on the liquidity provider Cetus operating in the SUI ecosystem.

According to the report, the attacker bypassed security controls by cleverly manipulating parameters to create an overflow error (overflow) in the system and managed to obtain a massive amount of liquid assets in exchange for a very small amount of tokens.

SlowMist stated that the attacker exploited a vulnerability in the checked_shlw function by carefully selecting calculated parameters and obtained billions of dollars worth of liquidity by spending only 1 token. The report mentioned that this was an extremely complex mathematical attack. The SlowMist security team expressed that developers of smart contracts must meticulously check boundary conditions in all mathematical functions to prevent similar incidents.

As it will be recalled, on May 22, a suspicious situation was detected in the Cetus protocol, the depth of the liquidity pool was significantly reduced, and the value of many token trading pairs decreased. After the incident, Cetus announced that a security incident had been detected, smart contracts were temporarily suspended for the security of the protocol, and the team had launched an investigation. The total loss is estimated at more than $230 million.