Cetus Protocol, the largest decentralized exchange (DEX$DEXE ) and liquidity provider on the Sui blockchain, has suffered a massive exploit, losing an estimated $260 million in tokens. The breach has sent shockwaves through the Sui$SUI ecosystem, causing CETUS and other Sui-based tokens to plummet.
### **Key Details of the Hack**
- The attacker’s wallet (**0xe28b50**) holds **12.9M SUI (~$54M)** and has a net worth of **32.9M SUI (~$137M)**, suggesting funds were bridged or swapped.
- The hacker used **spoof tokens (like BULLA)** to manipulate price curves and liquidity reserves, draining real assets (SUI, USDC) from pools.
- Cetus has **paused its smart contracts** and is investigating, promising a detailed report soon.
### **Market Impact**
- **CETUS token dropped 40%** within hours.
- Sui-based memecoins like **BULLA and MOJO crashed over 90%**.
- Sui’s DeFi ecosystem faces liquidity strain as major trading pairs remain drained.
### **Binance Offers Support**
Binance founder **CZ** confirmed the exchange has reached out to Sui’s team to assist in mitigating the fallout.
### **What’s Next?**
Traders await Cetus’ official post-mortem, while the exploiter’s wallet remains active, possibly moving funds.
Stay tuned for updates as this story develops.
**#Dogecoin #Cetus #Sui #CryptoHack**
*(For more crypto news, follow me on Binance Square!)*
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