SuiNetwork

The native token of the #SuiNetwork , SUI, has entered a corrective phase, retreating sharply after an unsuccessful attempt to sustain its breakout above the key $4 resistance level. Over the past week, $SUI has declined by more than 7%, despite a modest 1.3% rebound in the last 24 hours.

Breakout Rejected: Price Slideshow After Brief Surge Past $4

In May 2025, SUI temporarily broke through the psychologically significant $4 threshold, peaking at $4.14. However, the rally proved short-lived, as the token lost momentum and reversed course. At the time of writing, SUI is trading at $3.32, recovering slightly from a recent low of $3.07. This marks a 19.8% drop from the monthly high and a 37% decline from its all-time high of $5.30.

$CETUS Exploit and Declining TVL Undermine Market Confidence

A significant factor in SUI’s recent underperformance is the $260 million exploit on the Cetus platform, a key DeFi protocol within the Sui ecosystem. The breach raised concerns about platform security and triggered broader risk aversion across the network. According to DeFiLlama, Sui’s total value locked (TVL) plummeted from $2.13 billion to $1.75 billion, reinforcing bearish sentiment.

Positive Catalysts: ETF Speculation and Ecosystem Growth

Despite prevailing market pressure, long-term sentiment toward SUI remains cautiously optimistic. Recent speculation surrounding a potential spot ETF filing—led by prominent firms such as 21Shares—has rekindled investor interest. Furthermore, ongoing development within the Sui ecosystem continues to build foundational strength, potentially setting the stage for future recovery.

Market Context: Bitcoin and Memecoins Outperform

While SUI grapples with a correction, broader market leaders like Bitcoin (BTC), Ethereum ($ETH ), and Solana (SOL) have shown greater resilience amid volatility. Notably, memecoins such as POPCAT and WIF defied the downturn, posting gains of 14% and 16%, respectively, over the same period.

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SUI Outlook: Correction Underway, But Long-Term Watch Continues

SUI has declined nearly 20% from its recent high of $4.14

The Cetus exploit and declining TVL have dented investor confidence

Speculation around a spot ETF and ecosystem growth offer potential upside

Renewed momentum will be key to reversing the current bearish trend

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The crypto world was rocked in May 2025 as hackers made off with a staggering $244.1 million across 20 major incidents. 😨 While that number is alarming, it's actually 39% lower than the $400M+ lost in April. Still, May proved that Web3 remains a high-stakes battlefield. ⚔️💰

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💥 The Cetus Protocol Exploit – $223M Vanishes!

The biggest blow came from the Cetus Protocol, a decentralized exchange (DEX) running on the Sui blockchain. 🚀 Hackers exploited a vulnerability in Cetus’ smart contract overflow checks, draining $223 million in mere moments. 🧨🔓

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🛡️ The Fightback: $157M Recovered!

But all hope wasn’t lost. Thanks to swift action by Sui validators and the Cetus team, about $157 million of the stolen funds were frozen and clawed back—an impressive 71% recovery rate! 🧊💼

With community support, $162M worth of these recovered assets will be transferred to a multi-signature wallet jointly managed by Cetus, the Sui Foundation, and blockchain security firm OtterSec. 🗳️🔐

This wallet will oversee the safe reimbursement of affected users and help restore Cetus’ operations. 🙌💸

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🎯 Bounty Offered: Will the Hacker Take It?

In a bid to recover the rest, Cetus has offered the attacker a $6 million white-hat bounty 💰🕵️‍♂️—a common tactic in crypto circles to encourage the safe return of stolen assets. So far, there’s been no response.

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📉 May in Perspective

Despite the drama, the total amount hacked in May 2025 is significantly less than previous months, a sign that DeFi platforms may be slowly learning from past attacks. 📚✅

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🔐 Final Thoughts

The Cetus hack is a wake-up call—but also a testament to how fast and united a community can respond. 👥⚡ With tighter security, better audits, and community-driven protocols, the future of DeFi can still be bright. 🌞📈 #CryptoNews #DeFiSecurity #BlockchainUpdates #CryptoHack #SuiNetwork $SUI

$SUI Looks Super Bullish, But There’s a Catch!
SUI Network is heating up in this bull market, and yes — it could potentially reach $10… even $15–$20 long-term! 🔥

But here’s something you need to know 👇
🔓 Today, 44M #SUI (~$143M) tokens got unlocked — that’s 1.32% of the circulating supply.
▶️ Only 33.87% of total supply is unlocked — meaning 66.13% is still locked with early investors and the team.
▶️ That’s ~$140M worth of tokens unlocking every month. This could put serious sell pressure on the price!
✅ I'm still bullish long-term, already holding from $0.50–$0.60.
▶️ If #SuiNetwork drops to around $2.80, I’ll be buying more.
Short-term dip = Long-term opportunity?
Be smart. Track unlocks. Buy low. Think long.

In the ever-evolving world of crypto, resilience is key. Cetus Protocol, a decentralized exchange (DEX) on the Sui blockchain, recently demonstrated this by taking significant steps toward recovery after a substantial exploit.

🚨 The Incident: A $223M Exploit
On May 22, Cetus Protocol faced a severe security breach, resulting in the loss of approximately $223 million in digital assets. The attacker exploited a vulnerability in the protocol's concentrated liquidity market maker contract, manipulating prices and draining multiple liquidity pools

🛡️ Swift Action: Freezing the Funds
In response, the Sui community acted promptly. Validators managed to freeze around $162 million of the stolen funds, preventing further losses.

🗳️ Community Vote: Empowering Decentralized Governance
Demonstrating the power of decentralized governance, over 90% of Sui validators voted in favor of a recovery proposal. This decision led to the transfer of the frozen assets to a multisignature wallet jointly managed by Cetus, the Sui Foundation, and security firm OtterSec

🔄 Recovery Roadmap: Steps Toward Restoration
With the funds secured, Cetus Protocol has outlined a comprehensive recovery plan:
Contract Upgrades: Enhancing the security and functionality of the protocol's smart contracts.Liquidity Restoration: Rebalancing and replenishing liquidity pools to resume normal operations.Compensation Contracts: Developing mechanisms to reimburse affected users

The team aims to fully restore protocol operations within a week, ensuring users regain access to their assets.

🗣️ Community Engagement: Upcoming Twitter Space
To maintain transparency and involve the community, Cetus has scheduled a public Twitter Space on June 2. This session will cover details of the exploit, the recovery process, and provide a platform for users to ask questions and share feedback.

💬 Final Thoughts
The Cetus Protocol incident underscores the importance of robust security measures and the strength of community-driven responses in the DeFi space. By swiftly freezing assets and collaboratively developing a recovery plan, the Sui community and Cetus Protocol exemplify resilience and the potential of decentralized governance

$SUI $CETUS $BTC

#CryptoNews #DeFiRecovery #CryptoSecurity #SuiNetwork #Blockchain

🚨 $162M Returned! Sui Community Delivers Justice After Major Exploit 🚨
In a massive win for DeFi users, Sui validators just approved the return of $162 million in frozen funds from the Cetus DEX hack. 😲
After a devastating $220M exploit on May 22, the Sui network acted fast—freezing most of the stolen funds. Now, thanks to a governance vote (90.9% in favor), victims will finally get their money back. 💸
Cetus aims to restart operations within a week, launching a full compensation plan and rebuilding trust. This vote not only marks a major recovery but sparks a debate on decentralization vs. safety in crypto governance. 🔥
Is this the new standard for how chains should handle exploits?
👇 Let us know what you think in the comments!

#SuiNetwork #CryptoNews #DeFiRecovery 🧠📊🛡️

Nearly 91% of validators on the Sui blockchain have approved a recovery proposal aimed at addressing damages from the recent hack of the decentralized exchange Cetus. The initiative will securely transfer affected funds into a multisig wallet, paving the way for user reimbursements.

✅ Strong Consensus Ends Voting Early
An on-chain vote involving validators and stakers was closed several days ahead of schedule due to overwhelming support. Over 90% of voters backed the protocol update, which allows the transfer of frozen funds into a jointly managed multisig wallet.
Voting power was determined by the amount of stake each participant held. Notably, the Sui Foundation abstained from voting to maintain fairness in the governance process.

🔄 Multisig Wallet: The Key to Restitution
The locked funds will be moved into a multisig wallet governed by three trusted entities: Cetus, the Sui Foundation, and security firm OtterSec. Their role is to safeguard the assets until they can be fairly redistributed to affected users according to the recovery roadmap.

🔧 Cetus Releases Transparent, Audited Recovery Plan
Cetus has revealed its post-hack strategy. Once the protocol update is complete, the following steps will be taken:

🔹 Assess liquidity losses across affected pools

🔹 Carefully convert assets to reduce further market disruption

🔹 Launch a new, security-enhanced CLMM contract

🔹 Deploy a compensation mechanism for liquidity providers
All new contracts will undergo independent auditing before going live. Cetus is also preparing to restart the protocol, which will allow users to access their funds—with some pools potentially restored within days.

🤝 Community-Led Crisis Management
The Cetus recovery process showcases effective decentralized governance in action. The Sui Foundation praised validators and stakeholders for their rapid response and transparent collaboration during the crisis.
“Regardless of your vote, your participation is a step forward toward resolution and a shared future,” said Cetus representatives.

#sui , #Cetus , #CryptoNewss , #SuiNetwork , #CryptoHack

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On May 22, 2025, the decentralized exchange Cetus Protocol, a key liquidity provider in the <cc-38/> network,
suffered a hacking attack, resulting in $223 million worth of assets being stolen. The attackers exploited a vulnerability in the business logic of the smart contract, leading to nearly complete depletion of the liquidity pools. Tokens of the Sui ecosystem, including SUI and <cc-7/>