A critical incident has been reported on the SUI blockchain: the decentralized market maker Cetus, which provides the main liquidity for ecosystem tokens, has been attacked. As a result, most assets on SUI have plummeted by 70–80% in price, trading has become practically frozen, and liquidity pools have been depleted. $11M in $SUI drained.
UPD: A hacker has stolen $260 million dollars from Cetus Protocol and is transferring it to Ethereum.
The first report came from user KashKysh.
“Looks like Cetus — the main liquidity provider on SUI — just got hacked. Most SUI tokens dropped by 80%, and they can’t even be traded. Liquidity pools are being drained,” he wrote.
Sharp Drop in Prices and Liquidity
At the time of publication, the following assets were among the hardest hit:
- USDC (USDC) — $0.2097, down 79.0% in one hour, liquidity $215, trading volume $544K, market cap $12.7B.
- HIPPO (sudeng) — $0.00006616, down 79.0%, liquidity $721K, volume $1.1M, market cap $6.6M.
- SQUIRT (SQUIRTLE) — $0.001376, down 73.0%, liquidity $65K, volume $304K, market cap $1.3M.
- BLUB (BLUB) — $0.00071122, down 75.0%, liquidity $426K, volume $175K, market cap $3.7M.
- LOFI (LOFI) — $0.01730, down 75.0%, liquidity $583K, volume $1.5M, market cap $17.3M.
- SUIMON (SUIMON) — $0.00037407, down 76.0%, liquidity $43K, volume $377K, market cap $740K.
- SUAI (SuiAI) — $0.00037609, down 75.0%, liquidity $63K, volume $130K, market cap $760K.
- SHRO (SroomAI DAO) — $0.001517, down 73.0%, liquidity $104K, volume $114K, market cap $1.6M.
- BUCK (Bucket USD) — $0.3110, down 68.0%, liquidity $1K, volume $1.4M, market cap not specified.
Consequences and Risks for the Ecosystem
Cetus is a key infrastructure component of the SUI ecosystem, providing automated liquidity for most popular tokens. The attack has impacted not only token prices but also the basic ability to trade: when liquidity pools are drained, users are unable to execute transactions.
Such an incident could trigger a chain reaction across the ecosystem — from a loss of trust to the shutdown of DeFi protocols that depend on Cetus liquidity.
What the Community Is Saying
Users on social media and forums report that the situation is developing rapidly and many were unable to withdraw liquidity before the pools were drained. With prices crashing and trading frozen, assets have become nearly illiquid.
As of publication, there have been no official comments from the Cetus team or SUI developers. It remains unclear how the attack was carried out and whether liquidity can be restored in the near future.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.