BREAKING 🚨

Massive Exploit on Sui Blockchain

Incident Overview

→ Cetus Protocol, the primary Liquidity Pool (LP) provider on SUI, has suffered a significant exploit.

→ Exploiter gained full control over SUI-denominated liquidity pools, resulting in widespread draining of funds.

Financial Impact

→ Initial reports suggest allegedly over $200M in liquidity has been compromised.

→ Exploiter actively bridging USDC off-chain in ~$1M batches.

→ SUI/USDC pool alone drained for approximately $11M.

→ Tokens paired with SUI severely impacted, prices collapsing by 70-90%.

Affected Tokens & Trading

→ Majority of memecoins and tokens paired with SUI severely down (70%-90%).

→ Decentralized Exchange (DEX) swaps compromised, trades failing due to drained liquidity pools.

→ Users unable to buy dips or sell positions on affected pairs.

Market Reaction

→ Severe panic and confusion among holders due to inability to manage positions.

→ Prices on Centralized Exchanges (CEX) remain comparatively stable versus DEX markets.

Current Situation

→ Awaiting official Cetus Protocol response, no formal acknowledgment or mitigation measures announced yet.

→ Situation remains highly volatile and ongoing.

→ Caution strongly advised, avoid interacting with SUI blockchain tokens until official clarity and communications emerge.

Source: Abhi