SUI-Based DEX Cetus Loses $11M in Exploit—Native Token Tanks 75%

Another day, another decentralized finance bloodbath—Cetus, a rising DEX on the SUI blockchain, just got carved open like a Thanksgiving turkey. Hackers siphoned eight figures, and the project’s token imploded faster than a crypto influencer’s credibility.

Anatomy of a heist: While details are still emerging, the exploit follows the classic DeFi playbook—flash loans, price oracle manipulation, or a smart contract loophole. The usual suspects.

Market fallout: Cetus’ token plunged over 75% post-hack, proving once again that ’code is law’ until it isn’t. Traders are left holding bags while the team scrambles to contain the damage—standard operating procedure in this wild west of finance.

The irony? This happened on SUI, a chain that pitched itself as the ’secure’ alternative to Ethereum. Maybe time to update those marketing materials.

Cetus, a leading decentralized exchange (DEX) on the sui blockchain, has suffered a major hack. The attacker drained $11 million worth of SUI tokens from the SUI/USDC liquidity pool, causing a sharp drop of over 75% in most token prices. The pool was nearly emptied, severely impacting trading activity. Cetus has confirmed the incident and is actively investigating. Users are advised to stay cautious while updates unfold on the situation. The event highlights ongoing security challenges in the DeFi space.