The Sui network, a blockchain initiative, has fallen victim to a cyberattack resulting in the loss of $29 million worth of SUI tokens. The attackers cleverly moved the stolen funds to Ethereum and laundered them using Tornado Cash, making it difficult to trace the transactions. The incident highlights the lack of robust tracking tools on the Sui network and raises concerns about network security. While the victims took precautionary measures by moving their remaining assets to safer wallets, the overall security of the network is still in question. The attack also demonstrates the challenges faced by emerging blockchain initiatives in ensuring their networks are secure. Despite these difficulties, the Sui network remains optimistic about expansion and plans to enter artificial intelligence, gaming, and fintech sectors. Sui's founder is also considering a collaboration with OpenAI. As of now, the price of SUI tokens has decreased by 2.27% in the last 24 hours and 18.20% in the last 7 days.



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