A vulnerability in one of the core DeFi protocols on Sui Network exposes the ecosystem to renewed scrutiny. Around 3:18 AM UTC, a bug that led to undercollateralization of the DeepBook Protocol’s USDC margin pool resulted in $239,700 of bad debt. The problem led to the immediate suspension of margin trading as developers raced to contain the damage. As outlined in the latest official update from DeepBook Announcement, the insurance mechanism of the protocol was triggered to reboot from a crisis situation. The financial loss seems small compared to previous exploits in the industry, but it reflects a broader trend
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