SUI-Based DEX Cetus Suffers $11M Exploit — Token Values Plummet Over 75%
Cetus, a leading decentralized exchange on the sui blockchain, has been hacked, resulting in an $11 million loss in SUI tokens. The attacker exploited the SUI/USDC liquidity pool, causing a dramatic 75% drop in related token values. Trading has nearly stalled as the pool’s reserves were drained.
Security flaws in DeFi protocols continue to be a major industry issue. Cetus has confirmed the breach and is investigating, advising users to stay cautious until more information is available. This event highlights the ongoing risks in permissionless financial systems.