Sui DEX Cetus suffers huge liquidity drain, crew denies alleged hack

Cetus Protocol, a key decentralized alternate and liquidity supplier on the Sui blockchain, suffered extreme disruption within the early hours of Thursday after an enormous outflow of funds triggered panic throughout the Sui DeFi ecosystem.

Preliminary stories from customers and on-chain information counsel that over $200 million in liquidity has been drained from Cetus swimming pools, prompting widespread issues a few main exploit.

Buying and selling performance on the platform has stopped working, whereas liquidity throughout numerous token pairs has depleted. Whereas $SUI costs stay secure on centralized exchanges, a number of liquidity pool tokens on Cetus have dropped by as much as 80%.

In an announcement issued shortly after the incident surfaced, the Cetus crew mentioned it had paused its sensible contract as a precautionary measure following the detection of an anomaly within the protocol. The crew confirmed that an investigation was underway and pledged to offer additional updates as quickly as extra particulars develop into accessible.

🚨Alert Announcement 🚨

There was an incident detected on our protocol and our sensible contract has been paused briefly for security. The crew is investigating the incident in the meanwhile. An additional investigation assertion can be made quickly. We’re grateful to your endurance.

— Cetus🐳 (@CetusProtocol) May 22, 2025

Sui confirmed that it’s working carefully with the Cetus crew to evaluate the scope of the disruption and can present updates as accessible.

At 3:52 AM PT, we turned conscious of an incident regarding Cetus. The Cetus crew has our energetic assist on this ongoing investigation and can present additional updates as quickly as they develop into accessible. https://t.co/LZwGeaCXvH

— Sui (@SuiNetwork) May 22, 2025

This can be a growing story. We’ll give an replace as we be taught extra.

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