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Major Breach Hits Sui Ecosystem: Cetus DEX Drained of Over $200M; Negotiations Underway
Major Breach Hits Sui Ecosystem: Cetus DEX Drained of Over $200M; Negotiations Underway
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The sui blockchain ecosystem faces a severe security crisis after Cetus Protocol, its largest decentralized exchange and liquidity provider, suffered an exploit resulting in over $200 million in losses. Attackers deployed "spoof tokens" to manipulate price curves and liquidity reserves, draining funds before the protocol locked vulnerable contracts.
Approximately $162 million of compromised assets have been frozen as Cetus engages in recovery negotiations. The breach underscores persistent vulnerabilities in DeFi infrastructure despite industry-wide security upgrades.
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