200 million dollars have disappeared from the $SUI ecosystem

At first, people thought it was a hack

Now? The situation may be worse

1. Cetus Protocol - The main DEX and LP hub on Sui

has been exploited.

And it's not a small amount:

The potentially affected amount exceeds 200 million dollars

The SUI/USDC pool alone lost 11 million dollars

Tokens across the entire ecosystem plummeted by 70-90%

2. According to early reports, the attackers controlled SUI-based mining pools and began draining them in real-time.

No delays, no warnings.

Just batch after batch of liquidity loss.

3. The attackers have begun transferring funds

Multiple wallets are sending over 1 million dollars worth of USDC across chains

Then converting it to ETH

And then pushing it to Tornado Cash

4. The turning point of the situation is as follows:

The Cetus team stated that this is not a hacking incident.

They posted on Discord that it was a vulnerability in the oracle.

"Please remain calm. The team is working to resolve this issue."

5. The current focus is:

→ Tracking the funds

→ Fixing the oracle

→ Publishing a complete post-mortem analysis

But the damage has been done

People's confidence in the DeFi stack of SUI is also hanging by a thread