🚨 $11M Exploit on Cetus DEX Shakes $SUI Ecosystem

In the last few hours, Cetus — the leading DEX on the Sui blockchain — suffered a major security breach. A vulnerability was exploited, allowing an attacker to drain the SUI/USDC liquidity pool, stealing over $11 million in SUI tokens.

🔻 Here's what happened — and why it matters:

🔹 Massive Impact on the Ecosystem

Over 75% price crash for many tokens listed on Cetus

Liquidity on the platform is nearly wiped out

Trading halted or severely disrupted

🔹 Binance Reacts Swiftly

Binance is monitoring the situation. CZ commented:

“We are doing what we can to help SUI. It’s not a pleasant situation. Hope everyone is safe.”

🔹 Wider Implications for Sui

This exploit raises concerns about:

DEX security on emerging L1s

Over-reliance on a single platform for liquidity

How resilient the Sui ecosystem truly is

🧠 Key Question:

Can the Sui network recover from this reputational blow — or is this the beginning of a broader trust crisis?