Latest news with #CetusProtocol
News18
21-07-2025
- Business
- News18
Mid-year update: Crypto thefts top USD 2.17 billion in 2025, shows data
New Delhi, Jul 21 (PTI) Crypto thefts in 2025 had already crossed USD 2.17 billion before last week's USD 44 million CoinDCX hack, underlining relentless cyber threat escalation in the digital currency world, according to the latest data. Blockchain analytics platform Chainalysis' 2025 crypto crime mid-year update says that over USD 2.17 billion was stolen from cryptocurrency services so far in 2025, and 'this year is more devastating than the entirety of 2024". By the end of June 2025, 17 per cent more value had been stolen year-to-date (YTD) than in 2022, previously the worst year on record. The USD 1.5 billion hack of ByBit, the largest single hack in crypto history, accounts for the majority of service losses. So far in 2025, significant concentrations of stolen fund victims have emerged in the US, Germany, Russia, Canada, Japan, Indonesia, and South Korea, it said. 'Regionally, Eastern Europe, MENA, and CSAO (Central and Southern Asia and Oceania) saw the most rapid H1 2024 to H1 2025 growth in victim totals," it said. The report revealed that threat actors who have compromised services tend to exhibit higher levels of sophistication than those targeting personal wallets. At USD 1.5 billion, the ByBit hack not only represents the largest crypto theft in history, but also accounts for approximately 69 per cent of all funds stolen from services this year, Chainalysis said. 'The sophistication and scale of this attack underscore the evolving capabilities of state-sponsored threat actors in the crypto space, and comes after a notable slowdown in the second half of 2024," it added. The report assumes significance in the backdrop of Indian cryptocurrency exchange CoinDCX suffering a security breach, resulting in theft of USD 44.2 million, or Rs 378 crore. CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal took to the social media platform X to reassure that customer funds remained unaffected and safe, with the compromise limited to an internal operational account. The total exposure is being absorbed entirely by CoinDCX, using the company's treasury reserves, the company said in a First Incident Report released on Sunday. Last year, crypto exchange WazirX faced a hack in India, leading to the loss of more than USD 230 million, and marking one of the biggest such heists in India. The theft had prompted a thorough examination of safety measures and eroded sentiments. Among other notable cryptocurrency thefts are those involving Cetus Protocol, which saw losses estimated between USD 200–260 million in May this year, and BigONE, which suffered a theft of USD 27 million in July 2025. PTI MBI ANK MR MR (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 21, 2025, 17:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Yahoo
01-07-2025
- Business
- Yahoo
Crypto Investors Lost $2.5B to Hacks and Scams in the First Half of 2025: Certik
Hackers stole more than $2.47 billion worth of cryptocurrency in the first half of 2025, already exceeding last year's total of $2.42 billion, according to Certik's Hack3d Report. The majority of that figure can be attributed to two incidents; the Bybit breach and the Cetus Protocol exploit that combined were worth $1.78 billion. Wallet compromise was the key attack vectors for hackers in the first half of this year, contributing to $1.7 billion worth of losses, while phishing was still rampant resulting in $410 million stolen across 132 incidents. Phishing is a technique hackers use to steal a victim's password or credentials in order to access an account. 'While the overall figures are alarming, it is important to point out that the majority of the funds lost in H1 were attributable to two concentrated, high-impact events,' said CertiK co-founder Ronghui Gu. 'But regardless, the results serve as another reminder to the industry that there is still much work to be done,' Gu added. The report also found that $801 million was lost in Q2 alone, a 52% decrease from the previous quarter. The majority of hacks took place on Ethereum, with $1.5 billion stolen across 164 incidents, followed by Bitcoin with $373 million stolen across 10 incidents. Sign in to access your portfolio
Crypto Insight
09-06-2025
- Business
- Crypto Insight
Sui DEX restarts, plots open-source move after massive exploit
Cetus Protocol, a Sui-native decentralized exchange that suffered a huge $220 million exploit in May, says it is now working on going open-source following its recent relaunch. An attacker exploited a pricing mechanism flaw to drain tokens from Cetus' major liquidity pools on May 22. The protocol managed to freeze $162 million of the stolen funds shortly after. Trade volume on Cetus had been trending upward before the attack, registering over $5 billion in April and another $5 billion in May, despite shutting down after May 22. Cetus liquidity pools replenished with loan and reserves In a June 7 Medium post, a day before its relaunch, the Cetus team said it's moving toward being fully open-sourced, with a new white bounty program, to 'encourage collective technical and security contributions.' As part of the relaunch, the team says it 'worked around the clock' and patched the software vulnerability, which allowed the hack, restored pool data to the correct pricing and conducted security audits on all code fixes and contract upgrades. Affected liquidity pools were replenished using a combination of $7 million in cash reserves, a $30 million USDC loan from the Sui Foundation and some of the recovered assets from the attacker. However, not all affected pools were fully restored, with the current recovery rate between 85% and 99%, depending on how much pool was drained during the attack, according to the Cetus team. Cetus sets aside tokens for compensation plan As part of a compensation plan for affected users, 15% of the protocol's native token supply, CETUS, is being set aside, with 5% available immediately and 10% linearly unlocked every month over the next year, starting June 10. The Cetus token is down over 12% in the last 24 hours, trading at $0.11, according to CoinGecko. There are also plans to upgrade the protocol monitoring system and have additional rounds of security audits. Protocol is still chasing funds Cetus said legal action is still on the cards, with legal proceedings launched in 'multiple jurisdictions' and law enforcement agencies 'actively involved' as well. 'The attacker ignored our previous white hat offer and has begun attempting to launder assets — a futile and traceable act. We are highly confident that successful arrest and recovering the remaining assets is only a matter of time,' the team said. The day after the hack, Cetus offered a white hat bounty of up to $6 million to the exploiter if they returned the stolen 20,920 Ether, worth over $55 million, along with the $162 million in stolen funds frozen on the Sui blockchain. Source:
Yahoo
02-06-2025
- Business
- Yahoo
$302 Million Lost to Crypto Scams, Hacks, and Exploits in May: CertiK
Cryptocurrency investors lost more than $300 million to scams, hacks and exploits in May, according to blockchain security firm CertiK. The majority of those losses were related to code vulnerability exploits, which accounted for $229 million -- a 4,483% rise on April. Phishing, which involves an attacker stealing a user's trading account or wallet credentials, accounted for $47 million of losses while private key compromise and price manipulation were behind $11.6 million and $1 million of losses respectively. 'Our research revealed an interesting anomaly in May: a significant increase in losses from code vulnerabilities, which represented a majority of exploited funds', said CertiK senior blockchain security researcher Natalie Newson. "It is important to point out that over the fast few years, losses from code vulnerabilities have decreased significantly. In 2024 $173 million was lost to code vulnerabilities, compared with $1.3 billion in 2021." The largest incident of all in was the Cetus Protocol exploit that prompted Sui to controversially pause the blockchain as attackers made off with $225 million. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
SUI Plunges 6% Overnight Before Buyers Step in at $3.40 Support
The cryptocurrency market faces headwinds as geopolitical tensions and security concerns weigh on investor sentiment. SUI's sharp overnight decline coincides with broader market uncertainty, though strong buyer interest emerged at support levels around $3.40-$3.42. Meanwhile, the Sui community has rallied behind Cetus Protocol's recovery efforts following its recent hack, with validators overwhelmingly approving a plan to return frozen funds to affected users. SUI-USD dropped precipitously from $3.59 to a low of $3.38 during the midnight hour with extraordinary volume (24.8M) - more than triple the average hourly trading activity. The overall range of $0.225 (6.25%) demonstrates substantial market uncertainty, with price finding support at $3.40-$3.42 on high volume, suggesting strong buyer interest at these levels. Following the sharp decline, SUI has established a recovery pattern, forming an ascending channel with resistance around $3.50, though momentum appears to be waning as evidenced by the recent rejection at $3.48 with increasing selling pressure. Price action formed a descending channel from $3.48 to a low of $3.42, with notable support emerging at $3.43. Volume spiked dramatically at 14:00, reaching 545,865 units—nearly 4x the hourly average—coinciding with a strong bounce from $3.43 to $3.44. The subsequent rejection at $3.44 and retracement to $3.43 suggests the formation of a potential range-bound pattern, with immediate resistance at $3.44 and support at $3.43, indicating market indecision following the earlier sharp decline.
