Scallop, a money market on the Sui Network, suffered a loss of 150,000 SUI due to an exploit in a deprecated sSUI rewards contract. The attacker exploited an old V2 spool contract from November 2023, which was no longer in active use but still callable due to immutable code on Sui. Core lending pools and user deposits were unaffected, and Scallop froze the compromised contract quickly, resuming normal operations within two hours. The protocol has committed to covering the entire loss from its treasury without impacting user yields, highlighting the risks of forgotten legacy code in DeFi systems.
Ethereum has strengthened its position as the top staking network with a 12.13% weekly increase in staked market cap, reaching $78.08 billion. This growth highlights a shift of investor interest back to large-cap, liquid networks despite mixed result...
Sui has announced that the Hashi Global testnet will launch soon, featuring native Bitcoin as collateral within its DeFi ecosystem. This development could allow Bitcoin holders to use BTC directly in Sui-based decentralized finance applications witho...
