$CETUS Protocol, the largest #DEX on the Sui network, suffered a massive security breach, losing over $200–$260 million in assets.

The attacker exploited vulnerabilities using fake tokens to manipulate price curves and drain liquidity pools, extracting real assets like SUI and USDC.

$CETUS token price crashed by up to 80% during the incident, later stabilizing around $0.17.

All smart contracts on Cetus have been paused for safety while the team investigates and prepares a detailed statement.

The exploit has caused widespread panic and halted trading across the #Sui #DeFi ecosystem, affecting other projects and tokens.

#Binance and other industry players have offered technical support to help contain the situation