Massive exploit hits Sui blockchain: over $260 million drained 🚨

Cetus Protocol, the main liquidity provider on Sui, has been exploited. The attacker gained control over multiple SUI-based liquidity pools and began draining them in batches, primarily converting stolen assets to USDC and bridging them to Ethereum 💰

💰 Early estimates suggest more than $260 million in liquidity has been compromised. The SUI/USDC pool alone was drained for over $11 million.

⛔️ DEX trading on Sui is essentially frozen. Most swaps are failing due to empty pools, and users can’t sell or buy into dips. Dozens of tokens paired with SUI have collapsed by 70% to 90% as a result.