Cetus—Sui’s Top DEX—Drained in $260M Exploit as DeFi’s ‘Security Premium’ Vaporizes

Another day, another nine-figure crypto heist—this time hitting Sui Network’s flagship decentralized exchange.

Cetus, the chain’s largest liquidity hub, got blindsided by attackers who siphoned $260 million in a single stroke. The exploit exposes the razor-thin margins between DeFi’s promised yields and its systemic fragility.

While the team scrambles to patch vulnerabilities, traders are left holding the bag—proof that in crypto, the ‘smartest contracts’ still can’t outrun human greed.

Hacker Bridging Funds to Ethereum Sui-based Tokens Crash Meanwhile, many SUI-affiliated tokens have reacted adversely to the liquidity pool drain. BULLA crashed 60%, with other meme coins like SLOVE, Uni, and MEMEFI capitulating 93%, 77%, and 51%, respectively. CETUS, the native token of the Cetus Protocol, also fell 34%, as tension among market investors surged. Nonetheless, SUI remains largely stable, correcting just 2.37% in the past 24 hours. Crypto Community Rally Around SUI  Amid the panic, major cryptocurrency players have rallied around the SUI ecosystem to show their support. For instance, Changpeng Zhao, Binance’s co-founder, confirmed in a tweet that the exchange is in contact with SUI and is doing its best to salvage the situation. He also confirmed that multiple blockchain security entities are already working with SUI and Cetus to provide possible solutions. Furthermore, Bybit also released a statement on the hack, stating its willingness to support the Sui network or Cetus in any feasible capacity.