Web3 Security Firm Analyzes Cetus Incident Impacting Liquidity

According to Foresight News, Web3 security company ExVul Security has analyzed a security incident involving Cetus. The analysis reveals that hackers exploited the flashswap function of Cetus due to a flaw in its price calculation mechanism. This vulnerability allowed the hackers to manipulate prices and drain significant liquidity from various pools. A substantial amount of funds has already been transferred to the Ethereum blockchain via cross-chain bridges.