Cetus, the largest DEX on Sui, was exploited today.

Over $220M was drained from liquidity pools. $160M is already frozen, while the attacker is attempting to convert the rest into ETH.

$CETUS dropped 20% after the news. Memecoins on $SUI also started bleeding across the board.

It’s another harsh reminder: security in DeFi is still far behind the scale this industry has reached.