Massive exploit hits Sui blockchain: over $260 million drained ๐Ÿšจ

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 ๐Ÿ’ฐ

๐Ÿ’ฐ Early estimates suggest more than $260 million in liquidity has been compromised. The SUI/USDC pool alone was drained for over $11 million.

โ›”๏ธ DEX trading on Sui is essentially frozen. Most swaps are failing due to empty pools, and users canโ€™t sell or buy into dips. Dozens of tokens paired with SUI have collapsed by 70% to 90% as a result.