SUI Network’s Cetus DEX Hit by $11M Exploit Targeting Liquidity Pools

Cetus DEX, a premier decentralized exchange on the sui blockchain, experienced a significant exploit that drained liquidity pools and disrupted trading operations. The attack specifically targeted SUI/USDC trading pairs, resulting in price irregularities and temporary suspension of swap functionalities.

Initial estimates placed losses at approximately $11 million from the platform’s most substantial liquidity pool before partial funds recovery. Blockchain analysis revealed the exploiter’s address initiated transactions with over $1 million in assets, though Cetus has yet to officially identify the breach’s origin.

While market conditions stabilized within minutes as prices normalized, the SUI/USDC pool sustained considerable damage, with post-attack USDC liquidity reduced to just $2.5 million. This event underscores ongoing security challenges within decentralized finance ecosystems.