“Cetus is sui’s Biggest Liquidity Provider and Decentralized Exchange.”, – WRITE: www.coindesk.com
- Cetus Protocol, The Largest Dex on the Sui Network, Was Exploited, Leading to A Halt in Trading and Drained Liquidity Pools.
- The attacker USED SPOOF TOKENS TO Exploit Price Curves and Reserve Calculations, Manipulating Liquidity to Extract Real Assets.
- Cetus have paused it Smart Contracts for Safety and Plans to Release a Detailed Statement, While Its Token Cetus Has Droped 40%.
The Wallet Tied to the Cetus Protocol Exploit – 0xe28b50 – Currently Holds Over 12.9 Million Sui, ValUED AT APPROXIMATELY $ 54 Million at Current Prices.
On -chain Data Shows the Address Has A Net Worth Exceeding 32.9 Million Sui (Approximately $ 137 Million), Suggesting The Attacker May have already bridged or swaped Funds.
The Wallet Remains Active at the Time of Publishing and Is Likely in the Process of ObfusCating Funds. This confirms the Scale of the Exploit and Further Pressures sui’s defi infrastructure, as Majoor token Pools and pairs reminded.
The Cetus Team has paused the smart contracts and is actvely investigating, it said in an X post. Accorging to early Analysis, The Attacker USED SPOOF TOKENS LIKE BULLA TO Exploit Broken Price Curves and Reserve Calculations.
They are added Near-Zero Liquidity to Manipulate Internal LP State and Repeatedly Removed Real Assets Like Sui and USDC Without Depositing Anything MEANINGFUL.
Seems Like All @Cetusprotocol LP WERE DRAINEDLooking Into Tx, The Likely Exploit Path Was:
1. Swap in Spoof Token (EG Bulla → SUI), Taking Advantage of MiscalCulated Price Curve or Broken Reserve Math.2. Add Liquidity with a Near-Zero Amount, to Manipulate Internal LP… Pic.twitter.com/ftpyrspwwwwwwwwwwwww
– Sashko🇺🇦 (@D0RSKY) May 22, 2025
Cetus ConfirMed the incident on X, Saying The Contract Has Been Paused “For Safety” and that A detailed Statement Will Follow.
Binance Founder Cz SAID The Exchange’s Team Has Reached Out to Sui to Offer Help,.
Cetus is Down 40% in the Past Few Hours, While Sui-Based Memecoins Like Bulla and Mojo have Droped Over 90%.
(Dextools)
Update (May 22, 12:00 UTC): Updates Headline and Story With Additional Details.
Update (May 22, 12:13 UTC): Adds Further Details and CZ Tweet.
Shaurya Holds Over $ 1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFI, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, Cake, Vet, Vet, Vet RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, Banana, Rome, Burger, Spirit, and ORCA.
He Provides Over $ 1,000 to Liquidity Pools on Compound, Curve, Sushiswap, Pancakeswap, Burgerswap, Orca, AnaSwap, Spiritswap, Roki Protocol, Yearn Finance Olympusdao, Rome, Trader Joe, and Sun.
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