Sui DEX restarts, plots open-source move after massive exploit
CointelegraphMonday, June 9, 2025 at 2:42:47 AM
The Sui decentralized exchange (DEX) is back online after a major security breach drained funds from its platform. To cover the losses, the team used a mix of recovered money, their own cash reserves, and even took out a hefty $30 million USDC loan to refill the drained liquidity pools. Now, they’re planning to go open-source—likely to rebuild trust and transparency after the exploit.
Editor’s Note: This is a big deal because exploits in DeFi (decentralized finance) can shake confidence in the entire ecosystem. The fact that Sui’s team is reopening and trying to make things right—while moving toward open-source—shows they’re at least trying to fix the problem. But it also highlights how risky DeFi can be, even for well-funded projects. If they pull this off, it could set a precedent for how platforms handle major hacks. If not, it’s another cautionary tale.
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