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Crockboy

@crockboy

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BREAKING 🚨 Massive Exploit on Sui Blockchain Incident Overview → Cetus Protocol, the primary Liquidity Pool (LP) provider on SUI, has suffered a significant exploit. → Exploiter gained full control over SUI-denominated liquidity pools, resulting in widespread draining of funds. Financial Impact → Initial reports suggest allegedly over $200M in liquidity has been compromised. → Exploiter actively bridging USDC off-chain in ~$1M batches. → SUI/USDC pool alone drained for approximately $11M. → Tokens paired with SUI severely impacted, prices collapsing by 70-90%. Affected Tokens & Trading → Majority of memecoins and tokens paired with SUI severely down (70%-90%). → Decentralized Exchange (DEX) swaps compromised, trades failing due to drained liquidity pools. → Users unable to buy dips or sell positions on affected pairs. Market Reaction → Severe panic and confusion among holders due to inability to manage positions. → Prices on Centralized Exchanges
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Wondering Why TVL Is High but Fees Are Low? Here's a Closer Look. If you've been watching DeFi protocols lately, you might’ve noticed a familiar pattern: TVL is soaring—tens or even hundreds of millions—yet protocol fees remain surprisingly low. It might seem inefficient at first glance, but in many cases, this is actually a sign that the protocol is laying the foundation for long-term growth. In the current market recovery phase, capturing liquidity is everything. Protocols are prioritizing trust, user base, and network effects over short-term revenue. Monetization isn’t the goal—not yet. That’s not a flaw, it’s a strategy. What’s more, when a significant chunk of the TVL consists of stablecoins, it sends a stronger signal. Stablecoin liquidity isn’t speculative—it’s patient capital. It reflects confidence in the protocol’s design and a belief in its future role in the on-chain economy.
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