{"id":129789,"date":"2025-05-22T13:18:10","date_gmt":"2025-05-22T13:18:10","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129789"},"modified":"2025-05-22T13:18:10","modified_gmt":"2025-05-22T13:18:10","slug":"sui-dex-cetus-suspected-of-being-hacked-over-200m-in-potential-losses","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129789","title":{"rendered":"Sui DEX Cetus suspected of being hacked: Over $200M in potential losses"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsCetus, a decentralized exchange (DEX) built on the Sui blockchain, is suspected to be undergoing a massive exploit that may have drained more than $200 million worth of digital assets.<br \/>\nPseudonymous Web3 researcher COMDARE3 posted on X that \u201cusers report\u201d that Sui-based DEX Cetus is being exploited.\u201d He also shared a screenshot of Cetus market data on DEX Screener, showing many assets losing well over half of their value over the last 24 hours.<br \/>\nCetus did not immediately respond to Cointelegraph\u2019s request for comments about the suspected exploit. A Sui team representative gave no comment to Cointelegraph regarding the Cetus situation.<br \/>\nCetus pool data shows that as of the time of writing, the DEX processed $2.9 billion worth of transactions on May 22, an 89% increase from the $320 million reported on May 21. This heightened level of activity may have been caused by funds being siphoned out of the protocol.<br \/>\nFar-reaching consequences for the market<br \/>\nSome tokens, such as Lombard Staked BTC (LBTC) or AXOLcoin (AXOL) lost the near totality of their value on Cetus. The top 15 losers all lost in excess of three-quarters of their price.<br \/>\nCetus DEX-listed asset pricing data. Source: DEX ScreenerKnock-on effects have already become apparent, with the Sui-based money market, Scallop, halting all borrowing on its protocol. The protocol said in an X post that a further announcement will be made when operations resume, but assured users that funds are safe.<br \/>\nOutside Cetus, LBTC appears to have gained over 4% in value over the last 24% according to CoinMarketCap data. Others, such as Axol (AXOL), have not been as fortunate, with CoinMarketCap data showing a loss of nearly 99.5%.<br \/>\nThe alleged exploiter\u2019s address contains nearly $52 million of Sui (SUI) tokens, $4.9 million of Haedal Staked SUI (HASUI), over $19.5 million of Toilet (TOILET), nearly $19.5 million of wrapped USDt (USDT) and many other assets.<br \/>\nThe official Cetus X profile confirmed that an incident on the protocol was detected, and the smart contract was paused for safety. It added that an investigation is ongoing.<br \/>\nRelated: Coinbase hacker trolls ZachXBT onchain after $42.5M THORChain swap<br \/>\nSource: CetusSuspicious fund transfers raise alarm<br \/>\nHowever, blockchain analysts and compliance firms are raising doubts about the project\u2019s transparency. A representative from AMLBot told Cointelegraph:<br \/>\n\u201cWe\u2019re seeing $212 million being bridged to Ethereum at a rate of $1 million per minute. That level of urgency suggests there may be more to the story than a simple bug.\u201d<br \/>\nRelated: AI tool claims 97% efficacy in preventing \u2018address poisoning\u2019 attacks<br \/>\nThe AMLBot representative \u2014 referring to statements made by Cetus team members on Discord \u2014 further explained that while the Cetus team \u201cis calling this incident \u2018just a bug,\u2019 \u2014 the timing raises questions.\u201d<br \/>\nOnchain data service Onchain Lens stated in an X post that \u201cthe attacker gained control of all SUI-denominated pools, exploiting over $200M, and has also started moving $USDC.\u201d<br \/>\nMagazine: DeFi\u2019s billion-dollar secret: The insiders responsible for hacks<a href=\"https:\/\/cointelegraph.com\/news\/cetus-dex-sui-exploit-200m-loss?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsCetus, a decentralized exchange (DEX) built on the Sui blockchain, is suspected to be undergoing a massive exploit that may have drained more than $200 million worth of&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129789"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129789"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129789\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129789"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}