SUI surprises with a price recovery after a massive DeFi exploit. Despite a major breach at the DeFi platform Cetus, where hackers drained $220 million, a portion of the funds has been frozen — and SUI’s price climbed nearly 4% in response. But according to analysts, this could be just the beginning — one expert believes SUI could surge to $20.
🔹 $220 Million Hack: Cetus Responds Swiftly
The hack took place on Thursday, with attackers stealing $220 million. Shortly after, Cetus announced it had successfully frozen $162 million, most of which remains held in SUI, while about $60 million was transferred to ETH outside the ecosystem.
According to a Q&A update on X, coordinated efforts are already underway with the SUI Foundation and other partners to recover the full amount.
Cetus also offered the hacker a $6 million bounty if they return 20,920 ETH, with a promise of no legal action, provided the funds remain untouched and unmoved.
🔹 SUI Explains Freeze Mechanism – No Centralization, They Say
In a post on X, the SUI team clarified how the fund freezing worked while preserving decentralization. Each network validator has the ability to manually block transactions from specific addresses. This decision is entirely up to the validator, and the block can be reversed at any time.
In this case, about one-third of SUI’s validators chose to ignore transactions from suspicious addresses, helping freeze the stolen funds.
🔹 Analyst Sees Bullish Wave Targeting $20
Elliott Wave analyst Michael_EWpro shared a chart suggesting SUI is progressing through a textbook five-wave cycle (1–2–3–4–5). Currently, the asset is believed to be in Wave (4), which may find a bottom between $1.50–$1.80.
📈 If this correction holds, the next bullish wave (Wave 5) could lead to a strong breakout. Based on Fibonacci extensions, Michael predicts a target range of $13 to $20.
Supporting indicators include:
🔹 ABC correction structure suggesting a return to $2.00–$2.40,
🔹 Strong historical support at that zone,
🔹 Volume profile showing minimal resistance between $4 and $10, opening the door for a fast climb.
Michael notes that a confirmed bounce from the $2 level would signal the completion of Wave (4) and set the stage for a move toward the $20 milestone.
🔹 The Largest DeFi Hack of 2025 – But SUI Gains Anyway
The Cetus breach is so far the biggest DeFi hack of 2025, though not as severe as the $1.4 billion Bybit exchange hack last year.
Despite the shock, SUI posted a 3.91% intraday gain. Optimism is fueled by expert analysis from X Markets’ Michael_EWpro, who sees the price movement as part of a long-term bullish trend.
📌 Summary: Despite the hacker attack, SUI maintains market confidence. With rapid action from the team, validator support, and strong technical momentum, the $20 target may be closer than it looks.
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