Cryptocurrency Diary 2025/05/22

Today's major event is that the basic liquidity facility Cetus on the Sui network was hacked, draining the pool with a total loss of 220 million USD. The Sui Foundation has frozen 160 million, and currently, 60 million USD has been cross-chained to Ethereum.

Cetus has currently offered a 10% settlement agreement, which amounts to 6 million USD.

I believe that aside from the 🇰🇵 hacker, no one would refuse this settlement agreement.

Because liquidity has been drained today, the meme coins on Sui have shown extreme volatility, with those buying the dip generally seeing a 5-10× increase, and arbitrageurs are making a fortune.

Crisis has created a carnival for a small number of people.

As I write this, I still need to receive soon and do alpha tomorrow😴$SUI $CETUS