🚨 Breaking news: Citos protocol, the best DEX on Sui, is hacked for $260 million; CETUS token drops by 40%
Citos protocol, the largest decentralized exchange (DEX $DEXE) and liquidity provider on the Sui blockchain, suffered a massive exploitation, resulting in a loss of around $260 million in tokens. The breach sent shocks through the Sui ecosystem, causing the collapse of CETUS and other Sui tokens.
DEXE
12.59
-2.3%
SUI
3.9702
+0.02%
### **Key details about the breach**
- The attacker's wallet (**0xe28b50**) contains **12.9 million SUI (~$54 million)** and has a net worth of **32.9 million SUI (~$137 million)**, indicating that the funds have been transferred or swapped.
- The hacker used **fake tokens (like BULLA)** to manipulate price curves and liquidity reserves, draining real assets (SUI, USDC) from the pools.
- Citos has **paused its smart contracts** and is investigating, promising a detailed report soon.
### **Market impact**
- **CETUS token dropped by 40%** in hours.
- Meme coins based on Sui such as **BULLA and MOJO dropped by over 90%**.
- The decentralized financial system of Sui is facing liquidity pressures as major trading pairs remain drained.
### **Binance offers support**
Binance founder **CZ** confirmed that the exchange has reached out to the Sui team for assistance in mitigating the fallout.
### **What's next?**
Traders are waiting for Citos' official report after the incident, while the exploiters' wallet remains active, possibly transferring funds.
Follow us for updates as this story develops.
**#Dogecoin #Citos #Sui #Crypto_Breach**
*(For more cryptocurrency news, follow me on Binance Square!)*
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