Today, a series of tokens built on the Sui blockchain have plummeted on decentralized exchanges (DEXs), following a suspected attack on the Cetus protocol.
Cetus is one of the leading decentralized trading and liquidity infrastructure platforms on the Sui network. However, according to data from DEX Screener, Cetus' liquidity pools are being drained by millions of dollars, causing many tokens such as LOFI and HIPPO to fall by more than 50% in just one hour. Some tokens have even lost more than 90% of their value.
Token prices on centralized exchanges remain relatively stable, but data from CoinGecko shows that the impact of the incident is starting to spread, causing the overall market price to plummet. CETUS token recorded a drop of around 50% on DEXs and almost 30% overall in the last hour.📉
prepare to catch the bottom like $ETH