Overview

• Cetus Protocol, Sui network’s largest decentralized exchange, suffered a $200–260 million exploit involving spoof tokens and price manipulation.
• The attacker exploited vulnerabilities in Cetus’s oracle system to distort price curves and drain liquidity pools, affecting multiple Sui-based tokens.
• Major tokens like Lofi, Sudeng, and Squirtle plunged by up to 97%, while the Cetus token itself dropped 53% following the attack.
• Cetus paused its smart contracts and launched an investigation, with the attacker’s wallet still holding over 32 million SUI and actively obfuscating funds.
• Despite the breach, Sui’s native token (SUI) has shown resilience, rising 2.2% in the past 24 hours, though broader ecosystem recovery remains uncertain.