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The Cetus protocol, the largest decentralized exchange (DEX) on the SUP network, was hacked Thursday, losing around $ 223 million in Suis tokens.
The hack has targeted the SUI / USDC liquidity pool, destroying almost all liquidity on Cetus and stopping on the platform.
The incident also caused a Flash release from the USDC on the SUP chain, where it was reported that it exchange hands for a fraction of one hundred. Liquidity in some pairs has dropped sharply, certain swimming pools lowering as low as $ 143,000.
Cetus (@Cetusprotocol) on #Sui Was hacked and lost more than $ 260 million!
The pirate converts stolen funds into $ USDC and transforming #Ethereum discuss $ EThwith ~ 60m $ USDC Already trendy crossed. pic.twitter.com/txfxloimod
– Lookonchain (@lookonchain) May 22, 2025
The feat made more than 75% the 15 best tokens suis.
The Cetus protocol team confirms the violation
The CETU team confirmed the violation and suspended trade in order to contain damage. It is to probe the scope of the attack and try to bring the system back to a stable state.
“We have confirmed that an attacker had stolen from around $ 223 million in the Cetus protocol,” he said in a Publish. “We have taken immediate measures to lock our contract by preventing theft of additional funds.”
He added that $ 162 million in compromised funds were successfully interrupted and that he worked with the SUP Foundation and other members of the ecosystem on future solutions, in order to recover the remaining stolen funds.
The attacker used a sophisticated attack method that involved parody tokens such as Bulla, which were used to manipulate defective price calculations and reserve systems in Cetus intelligent contracts.
The striker has also manipulated liquidity to withdraw real assets such as SU and USDC, operating vulnerabilities in the automated logic of the DEX market.
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