Market Alert: $CETUS & $SUI Plunge Amid Major Exploit — $11M Drained from Cetus Protocol
Chaos strikes the Sui ecosystem as both $CETUS and SUI experience sharp crashes following a suspected exploit targeting the Cetus Protocol, the network’s flagship decentralized exchange (DEX) and liquidity provider.
What Just Happened?
Cetus, a critical pillar of the Sui DeFi landscape, was reportedly exploited in the past few hours.
Over $11 million in SUI tokens were allegedly siphoned from the SUI/USDC liquidity pool, triggering a liquidity crisis and widespread panic across the network.
Impact on $CETUS:
• Price collapsed from $0.2572 to $0.1465 — over -40% in minutes
• Mass exodus of liquidity providers and traders
• Confidence in the DEX’s integrity severely damaged
Impact on $SUI:
• Dropped from $4.20 to $3.65, a -15%+ decline
• Heavy sell pressure as users exit Sui-linked assets
• Volatility surges amid fears of broader systemic risk
Why This Matters:
In decentralized finance, trust in protocol security is everything. An exploit in a core DEX like Cetus ripples through the entire ecosystem. As many Sui-based projects rely on Cetus for trading and liquidity, this breach threatens to destabilize the broader network.
What to Watch:
• Official statement from the Cetus team confirming the breach and outlining next steps
• Emergency measures or compensation plans to stabilize affected pools
• Whether confidence and liquidity return — or continue to bleed out
Final Word:
This incident is a sobering reminder that security and audits are non-negotiable in DeFi. With uncertainty still swirling, both CETUS and SUI remain in high-risk territory.
Traders: stay alert, use tight risk controls, and monitor updates in real time.