$CETUS sharp drop!!!
Now, prominent blockchain analyst LookOnChain has confirmed that Cetus Protocol was hacked, with more than $260 million in assets stolen. According to LookOnChain’s report on X, the attacker drained massive sums from the protocol and is actively moving funds through bridges and mixers in an attempt to obscure the flow of capital.
“Cetus on SUI was hacked and lost more than $260 million! The hacker is converting the stolen funds into USDC and cross-chaining to Ethereum to exchange for ETH, with ~60M USDC already cross-chained,” LookOnChain wrote.
This confirmation has fueled widespread panic, especially as no official post-mortem or technical breakdown has been released by the Cetus team. Volatility has gripped SUI markets, and liquidity pools remain disrupted across the network
“The biggest LP provider on SUI was just hacked Hopefully CETUS resolve this and fast because it is affecting the entire ecosystem,” wrote crypto analyst Gordon on X.
In an update, LookOnChain added that the hacker has spent over 58 million USDC to buy 21,938 ETH at an average price of $2,658.
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