Cetus Protocol, a number one DEX on the Sui Network, has been hacked, dropping no less than $200 million. CETUS, SUI, and Sui community meme cash crashed because of this. Right here’s every little thing you might want to know concerning the Cetus Protocol hack.
There’s at all times a primary for every little thing. Ethereum confronted a tough fork barely a 12 months after launching. Whereas not a hack, the injury and controversy impacted Ethereum, inflicting splits in blockchain ideology.
Cetus Protocol Hacked
Launched in Could 2023, the Sui Network loved a easy run till as we speak, when the Cetus Protocol fell sufferer to hackers.
Cetus(@CetusProtocol) on #SUI was hacked and misplaced greater than $260M!
The hacker is changing the stolen funds into $USDC and cross-chaining to #Ethereum to alternate for $ETH, with ~60M $USDC already cross-chained. pic.twitter.com/txfxLoImOd
— Lookonchain (@lookonchain) Could 22, 2025
The protocol misplaced between $220 and $230 million in an incident that despatched shockwaves by means of the crypto and DeFi communities.
Hacks not solely end result within the lack of valuables, information, and funds but in addition have extreme uncomfortable side effects, generally even forcing sell-offs in among the finest cryptos to purchase.
The Cetus Protocol hack triggered a sell-off, inflicting CETUS to plummet by over 40% and path among the finest Solana meme cash.
(CETUSUSDT)
What’s Cetus Protocol?
So, what occurred? The Cetus Protocol is a decentralized alternate (DEX) on the Sui Network.
It makes use of the concentrated liquidity market maker (CLMM) mannequin pioneered by Uniswap and incorporates options from Dealer Joe’s CLMM design.
Past token swapping, Cetus is among the largest liquidity suppliers on Sui.
Inside the Sui ecosystem, customers primarily use Cetus to swap SUI/USDC, however as a DEX, it helps lots of of liquidity swimming pools for numerous tokens minted on the community.
Over time, Cetus turned a hub for buying and selling meme cash on the scalable platform.
What Occurred?
As a core DEX on Sui, Cetus was (as anticipated) a primary goal for hackers.
On Could 22, they exploited a number of liquidity swimming pools, draining $11 million from the SUI/USDC pool and wiping out funds from numerous meme coin swimming pools, inflicting token costs to crash.
(Supply)
The Lombard Staked BTC (LBTC) pool was among the many hardest hit, practically worn out fully.
How did this Cetus Protocol hack occur?
Analysts report that hackers gained management of all SUI-denominated liquidity swimming pools.
They then minted or deposited near-zero-value spoof tokens to control CLMM worth curves and reserves, extracting actual property with out depositing equal worth.
Looks as if all @CetusProtocol LP had been drained
Wanting into tx, the seemingly exploit path was:
1. Swap in spoof token (e.g. BULLA → SUI), benefiting from miscalculated worth curve or damaged reserve math.2. Add liquidity with a near-zero quantity, to control inside LP… pic.twitter.com/FtpYRSpwWW
— sashko
(@d0rsky) Could 22, 2025
This was doable as a consequence of a rounding bug within the liquidity pool logic.
How @CetusProtocol was hacked
A hacker abused a rounding bug within the liquidity pool logic.
The bug?
Cetus miscalculated LP share:
In case you added 1 token, it generally gave you the share as in the event you added 2.
Sounds silly, nevertheless it labored.
The exploit:
Flashloan… pic.twitter.com/Ibj3uf8KJG
— Sui Nook (@SuiNook) Could 22, 2025
Though the Oracle was anticipated to detect this, Cetus attributed the exploit to a pricing Oracle malfunction.
By then, hackers had stolen tokens price over $200 million.
Roughly $60 million in USDC was rapidly bridged to Ethereum and swapped for ETH inside an hour.
However there’s excellent news: Round $160 million has reportedly been frozen and might be returned to Cetus swimming pools.
ANNOUNCEMENT
As of earlier as we speak, we have now confirmed that an attacker has stolen roughly $223M from Cetus Protocol. We have now took instant motion to lock our contract stopping additional theft of funds.
$162M of the compromised funds have been efficiently paused. We’re…
— Cetus
(@CetusProtocol) Could 22, 2025
Injury Management Underway at SUI
As token costs plummeted, Cetus Protocol froze its contracts to halt additional losses.
It additionally promised an intensive investigation.
Sui Network builders have pledged assist.
We’ve realized {that a} Cetus good contract was hacked this morning for about $223M and Cetus subsequently paused their good contracts to forestall additional theft.
Cetus labored along with the opposite DeFi protocols, the Sui Basis, and the Sui validators to…
— Sui (@SuiNetwork) Could 22, 2025
Amid the chaos, Changpeng Zhao, the Binance co-founder, stated they might “do everything” to help Sui, noting that the hack is “not a pleasant situation.”
DISCOVER: Subsequent 1000x Crypto – 11 Cash That May 1000x in 2025
Cetus Protocol Hack, CETUS And SUI Prices Crash
- Cetus Protocol hacked, loses over $230 million
- Hackers focused SUI-denominated liquidity swimming pools
- CETUS and SUI costs drop
- Workforce and group investigating the incident, $160 million reportedly recovered
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