Market Alert: $CETUS & $SUI Suffer Sharp Drop After Exploit Incident
In the last few hours, both CETUS and SUI have faced heavy sell-offs, with CETUS dropping over -40% from its peak and SUI down by -15%+. This sharp correction follows a serious event affecting the Cetus Protocol, a key DeFi player in the Sui ecosystem.
What happened?
Cetus is the main decentralized exchange (DEX) and liquidity provider (LP) on the Sui blockchain. According to early reports, the protocol was allegedly exploited, and over $11 million worth of SUI was drained from the SUI/USDC pool. As a result, liquidity vanished from key trading pairs, causing token prices to collapse rapidly.
Impact on $CETUS:
Price dropped from $0.2572 to nearly $0.1465 in minutes
Panic selling followed as pools emptied
Confidence in the DEX’s security was severely shaken
Impact on $SUI:
SUI also took a direct hit due to being the main asset drained in the exploit
Price plunged from $4.20 to a low of $3.65, wiping out gains from the past week
High trading volume suggests many users rushed to exit positions
Why this matters:
In DeFi, trust in liquidity pools and protocols is everything. When a core DEX like Cetus faces an exploit, the entire network feels the shock. Many tokens on Sui depend on Cetus for liquidity, and if users can't trade or withdraw safely, fear spreads fast.
What to watch next:
Whether the Cetus team confirms the exploit and shares recovery or compensation plans
How fast Sui ecosystem protocols respond to contain the damage
If liquidity returns or if users continue to withdraw funds
Final Note:
These events are reminders of how critical security and smart contract audits are in the DeFi space. For now, both CETUS and SUI remain highly volatile, and traders should proceed with caution.
