On May 22, 2025, Cetus Protocol, the leading decentralized exchange (DEX) on the Sui blockchain, experienced a significant security breach. The hack resulted in the theft of approximately $260 million in digital assets, making it one of the largest DeFi breaches to date. (Source: Original Text)
The attacker exploited a flaw in Cetus' pricing mechanism. This incident had a considerable impact on the Sui community. (Source: Original Text)
Consequently, the price of the Sui (SUI) token fell by about 15% to $3.81 by May 29. Cetus DEX is crucial for token trading and liquidity within the Sui ecosystem. (Source: Original Text)
The platform's rapid growth made it a prime target. Trade volume on Cetus DEX surged from $182.47 million between October 1 and 31, 2023, to $7.152 billion between January 1 and 31, 2025, according to DefiLlama. (Source: Original Text)
An undetected error in Cetus DEX's code facilitated the exploit. This event underscores the ongoing security challenges in the rapidly expanding DeFi space, despite efforts to prioritize safety. (Source: Original Text)