Sui Network – May 23, 2025 – Cetus DEX, a decentralized exchange operating on the Sui blockchain, has reportedly fallen victim to a massive exploit that has resulted in over $200 million in losses, according to blockchain analysts and community reports.

The attack, which unfolded over a short timeframe, appears to have leveraged vulnerabilities within Cetus’ smart contract system, potentially involving manipulated price oracles or faulty liquidity pool calculations. While specific technical details are still emerging, the impact has been significant enough to halt trading activity on the platform and trigger a full-scale investigation.

Cetus DEX confirmed the incident in a public statement, stating that it is actively working with blockchain security experts and auditors to trace the root cause of the exploit and prevent further damage. The protocol’s smart contracts have been temporarily paused as a precautionary measure.

“We are aware of the abnormal activities and are taking all necessary steps to secure funds and investigate the issue. The safety of our users and ecosystem is our top priority,” Cetus DEX stated on X (formerly Twitter).

This exploit comes at a critical time for the Sui ecosystem, which has been gaining momentum as a high-performance Layer 1 blockchain for DeFi applications. The breach raises questions around the robustness of emerging DeFi protocols and the urgent need for stronger on-chain auditing and real-time monitoring systems.

Community responses have been mixed. While some users have expressed concern over the frequency of DeFi-related exploits, others have called for greater decentralization and transparency from project teams building on novel blockchains like Sui.

As of now, the exact number of affected wallets and the feasibility of fund recovery remain unclear. The Cetus team has promised further updates as forensic analysis progresses.

About Cetus DEX:

Cetus is a decentralized automated market maker (AMM) protocol native to the Sui and Aptos ecosystems. It provides concentrated liquidity pools and advanced trading features, aiming to bring capital efficiency and flexibility to DeFi traders.

Stay tuned to Altcoiners.live for real-time updates and community reactions to this developing story.

Author
Surabh Yadav