🚨 $CETUS , the largest decentralized exchange (DEX) on the Sui blockchain, suffered a major security breach on May 22, 2025, resulting in the loss of approximately $223 million in digital assets. The attacker exploited vulnerabilities in the protocol’s smart contracts by deploying spoof tokens to manipulate price curves and reserve calculations, effectively draining multiple liquidity pools .  

In response to the exploit, Cetus immediately paused its smart contracts to prevent further losses and initiated an investigation. Collaborating with the Sui Foundation and other ecosystem stakeholders, the team successfully froze $162 million of the stolen funds and is actively working to recover the remaining assets .  

The incident has significantly impacted the CETUS token’s market performance, with its price plummeting by over 20% in the last 24 hours, currently trading around $0.166 . This event underscores the critical importance of robust security measures in decentralized finance platforms. 

#CetusProtocol #DEXHack #SuiNetwork #CryptoSecurity #DeFiNews