Sui DEX Cetus suspected of being hacked, liquidity pools drained and token prices plunge

Swapping functionalities on Cetus have reportedly ceased working, and liquidity for many token pairs has collapsed.

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.

<?xml encoding="UTF-8">

Cetus Protocol, a key decentralized exchange (DEX) and liquidity provider on the Sui blockchain, was suspected to be the target of a cyberattack on Thursday. Initial on-chain analyses indicated a rapid and substantial drain of liquidity from multiple trading pools, severely impacting token trading on the platform.

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%.

At the time of writing, the Cetus development team has yet to release an official statement.

This is a developing story. We’ll give an update as we learn more.

Disclaimer