⚡⚡⚡Market Warning: $CETUS & $SUI sharply fell after the exploit incident

In the last few hours, both #CETUS and SUI faced heavy sell-offs: #CETUS dropped more than -40% from its peak, while SUI fell by more than -15%. This sharp decline followed a serious event affecting the Cetus protocol, a key player in DeFi within the Sui ecosystem.

What happened?

Cetus is a major decentralized exchange (DEX) and liquidity provider (LP) on the Sui blockchain. According to preliminary reports, the protocol was allegedly compromised, and over $11 million in SUI was withdrawn from the SUI/USDC pool. As a result, liquidity vanished from key trading pairs, which quickly led to a collapse in token prices.

Impact on $CETUS:

Price dropped from $0.2572 to nearly $0.1465 in a matter of minutes

A panic sell-off followed as the pools emptied

Confidence in the safety of the DEX was severely undermined