Historic Hack on the Sui Network: $260 Million Vanished
On May 22, 2025, the Cetus protocol, the main exchange platform on the Sui network, was the target of a massive hack. The attacker exploited a flaw in liquidity management using fake tokens, diverting over $260 million in cryptocurrencies.
This major blow caused a sharp drop in Sui tokens, with some losing up to 90% of their value. In response, the Cetus contract was suspended, and Binance announced its support to help trace the stolen funds and strengthen the network’s security.
