When $223 Million Vanishes: The Haedal Protocol’s Hilarious Misadventure!

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In a twist worthy of a theatrical farce, the Sui-based liquid staking protocol, Haedal, has decided to hit the pause button on its beloved haeVault feature. Why, you ask? Well, it seems our dear friends at Cetus, the liquidity pool provider, have suffered a rather unfortunate $223 million exploit. Oops! 😱

In a recent post, the protocol, with all the seriousness of a cat contemplating its next nap, issued an official statement. They declared that since the haeVault feature is as dependent on Cetus as a fish is on water, it would be temporarily disabled to prevent any further shenanigans. Safety first, right? 🦺

“User safety remains our top priority,” they proclaimed, as if reading from a script. “haeVault will resume once all risks are resolved and the environment is secure.” Ah, the sweet sound of corporate jargon! 🎤

Haedal, in a fit of bravado, assured us that aside from the beleaguered haeVault, all other on-chain features and funds are “completely safe.” They even mentioned that they are in talks with Cetus and other Sui ecosystem projects, ready to lend a helping hand. How noble! 🤝

But let’s not forget the collateral damage! The Sui ecosystem, once a thriving bazaar, has been left reeling. In just 24 hours, tokens like AXOL, HIPPO, and SQUIRT have plummeted faster than a lead balloon, losing almost all their value after the attacker drained Cetus’ liquidity pool. Talk about a liquidity crisis! 💧

As of the latest gossip, the CETUS token has taken a nosedive, plummeting nearly 30% in the past 24 hours. It’s now trading at a paltry $0.169. Meanwhile, the HAEDAL token is holding its ground, only dipping slightly by 0.7%. It’s currently at $0.17, which is practically a miracle! 🎉

The Sui token itself has also joined the party of despair, slipping more than 4.7% from a high of $4.18 to a mere $3.85. It’s now languishing nearly 28% below its all-time high of $5.35, which was a distant memory from early January 2025. How the mighty have fallen! 📉

In a last-ditch effort to recover their losses, the Cetus Protocol has announced a $6 million bounty for the return of stolen funds. They’re asking the hacker to return 20,920 ETH (worth a staggering $55.7 million) and all frozen assets on Sui. In return, the hacker gets to keep around 2,324 Ethereum and a shiny immunity from legal action. What a deal! 💰

But beware, dear hacker! The Cetus team has warned that this offer is as time-sensitive as a cat chasing a laser pointer. If you off-ramp or mix those stolen funds, the deal is off. Tick-tock! ⏰

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2025-05-23 11:32