Key Takeaways
- Cetus Protocol on Sui blockchain was targeted by a cyberattack, draining multiple liquidity pools.
- Several liquidity pool tokens on Cetus plunged by up to 80% following the incident.
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Cetus Protocol, a key decentralized exchange and liquidity provider on the Sui blockchain, suffered severe disruption in the early hours of Thursday after a massive outflow of funds triggered panic across the Sui DeFi ecosystem.
Initial reports from users and on-chain data suggest that over $200 million in liquidity has been drained from Cetus pools, prompting widespread concerns about a major exploit.
Trading functionality on the platform has stopped working, while liquidity across various token pairs has depleted. While $SUI prices remain stable on centralized exchanges, several liquidity pool tokens on Cetus have dropped by up to 80%.
In a statement issued shortly after the incident surfaced, the Cetus team said it had paused its smart contract as a precautionary measure following the detection of an anomaly in the protocol. The team confirmed that an investigation was underway and pledged to provide further updates as soon as more details become available.
🚨Alert Announcement 🚨
There was an incident detected on our protocol and our smart contract has been paused temporarily for safety. The team is investigating the incident at the moment. A further investigation statement will be made soon. We are grateful for your patience.
— Cetus🐳 (@CetusProtocol) May 22, 2025
This is a developing story. We’ll give an update as we learn more.
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