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Security expert Alex Horlan stated that the Cetus protocol attacker used near-zero liquidity injections to distort internal pool logic and steal assets.
Alex Horlan urged the Cetus Protocol team to review critical functions such as addLiquidity, removeLiquidity, and swap for mathematical vulnerabilities.
An attacker exploited the Cetus Protocol by using spoof tokens to manipulate price curves and reserve calculations, allowing unauthorized extraction of real assets.
The Cetus protocol attacker used over 58 million USDC to purchase 21,938 ETH at an average price of $2,658 during the aftermath of the hack
An independent blockchain analyst concluded that Cetus Protocol’s liquidity pools were drained using a multi-step exploit that manipulated token pricing mechanics.

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Cetus Protocol pauses operations after $260M hack

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