"Turbos Finance(TURBOS): 'Safe from Cetus(CETUS) Incident, User Assets Secure'"

# Turbos Finance Asserts Security Amid Sui Ecosystem Hack Following a major hacking incident within the Sui (SUI) blockchain ecosystem, decentralized exchange (DEX) Turbos Finance (TURBOS) confirmed on the 23rd that its platform remains secure and unaffected. Via its official social media channels, Turbos Finance stated, "We are aware of the security incident impacting certain DEX platforms within the Sui ecosystem. Turbos has not been impacted by this event, and user assets remain 100% secure and protected." This statement followed the recent attack on the Sui-based DEX Cetus (CETUS), which resulted in the largest hack to date within the ecosystem, with an estimated loss of $220 million in assets. # Systemic Exploit of Smart Contracts The attack on Cetus exploited a mathematical vulnerability during the liquidity provision process. A structural flaw in the smart contract allowed the hacker to withdraw excessive rewards by providing minimal liquidity. In response, Cetus suspended its smart contract and successfully froze $160 million in assets. However, the remaining $60 million had already been converted to Ethereum (ETH) and dispersed through the Ethereum network. # Turbos Prioritizes Security Turbos Finance reaffirmed its commitment to security, emphasizing it as their "top priority." "All systems are working normally, and our security team continues to monitor the situation in real-time," the firm stated. The DEX underscored its enhanced security audit protocols and advanced monitoring capabilities, reinforcing its dedication to ensuring stability and trustworthiness for users. Turbos framed these measures as critical to its operations as a decentralized exchange. # Decentralization Debate Rekindled The Cetus hack has also reignited debates on the true decentralization of Sui’s network. Reports emerged that Sui validators blocked transactions and froze wallets post-hack, raising questions about the network’s decentralization philosophy. With a structure of roughly 120 validators, the Sui network showcased its ability to perform real-time censorship and asset freezes during crisis scenarios. This has sparked renewed concerns regarding political censorship, centralization risks, and trust issues within the ecosystem. # A Wake-Up Call for DeFi Governance Beyond technical vulnerabilities, the incident has generated broader discussions about the governance design and security principles of decentralized finance (DeFi) infrastructures. Reflecting on the evolving challenges of the landscape, Turbos Finance stated, "In an environment like this, the importance of trusted systems becomes even more pronounced. We remain fully committed to safeguarding user assets and upholding the integrity of our platform."