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Sui's Cetus Decentralized Exchange Hit in $260M Exploit
The apparent exploit cratered the prices of a number of top Sui ecosystem tokens.
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Cetus, the largest DEX on the Sui network, was exploited for $260M, causing massive losses and token crashes across the ecosystem.
What’s the Scoop?
- Massive Hack: Cetus, the largest DEX on the Sui network, was exploited for $260M, draining its liquidity pools.
- Exploit Mechanism: The attacker used spoof tokens to manipulate price curves and liquidity reserves, extracting real assets like SUI and USDC.
- Token Fallout: CETUS token dropped 40% and Sui-based tokens like BULLA and MOJO crashed by over 90% following the hack.
- Paused Contracts: Cetus has halted smart contracts and is actively investigating the incident, with an official statement pending.