Hope

DeFi

Cetus Protocol

<p>The <a rel="noopener noreferrer nofollow">wallet</a> tied to the <strong><a href="https://coindoo.com/sui-based-cetus-protocol-reportedly-hit-by-major-exploit-usdc-depegged-tokens-crash-over-90/" rel="noopener noreferrer nofollow">exploit</a></strong>—address 0xe28b50—currently holds more than 12.9 million <strong><a href="https://coindoo.com/cryptocurrencies/sui/" rel="noopener noreferrer nofollow">SUI</a></strong>, valued at approximately $54 million. However, deeper analysis reveals the attacker’s total holdings exceed 32.9 million SUI, indicating substantial bridging and fund obfuscation may already be underway.</p>
<p>“This confirms the scale of the exploit and further pressures Sui’s DeFi infrastructure,” <strong><a href="https://x.com/lookonchain/status/1925520316044046809" rel="noopener noreferrer nofollow">said</a></strong> Lookonchain.</p>
<p>Initial signs of the breach emerged when <strong><a href="https://coindoo.com/cryptocurrencies/usd-coin/" rel="noopener noreferrer nofollow">USDC</a></strong> on Sui depegged to near zero and token prices across Cetus trading pools plummeted by up to 99%, triggering panic across the ecosystem. Liquidity providers have reported total losses, and major token pairs remain non-functional as the attacker continues to move assets across networks.</p>
<p>With $260 million drained, this is now one of the largest DeFi exploits of 2025, and the most severe attack on the Sui ecosystem to date.</p>
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<p>The attacker’s wallet remains active, raising concerns that funds may soon be routed through privacy protocols or mixers to avoid recovery.</p>
<p>The Cetus team has not yet issued an official post-mortem or mitigation plan, as community trust in the platform and broader Sui DeFi landscape faces a severe stress test.</p>
<p>As investigations unfold, users are urged to avoid interacting with affected contracts or pools, and await formal communication from the protocol’s developers.</p>
<p>In a brief comment, Binance CEO CZ <strong><a href="https://x.com/search?q=CZ&amp;src=typed_query" rel="noopener noreferrer nofollow">acknowledged</a></strong> the situation and expressed solidarity:</p>
<p>“We are doing what we can to help SUI. Not a pleasant situation. Hope everyone stay SAFU!”</p>
<p>CZ’s statement signals potential coordination between exchanges and developers to respond to the crisis. However, without formal updates from Cetus or Sui’s core team, users are urged to exercise caution and avoid interacting with affected pools or smart contracts until further notice.</p>
<p>The post <a href="https://coindoo.com/cetus-protocol-hacked-for-260m-sui-defi-in-crisis-as-binance-steps-in/" rel="noopener noreferrer nofollow">Cetus Protocol Hacked for $260M: Sui DeFi in Crisis as Binance Steps In</a> appeared first on <a href="https://coindoo.com" rel="noopener noreferrer nofollow">Coindoo</a>.</p>

Cetus Protocol Hacked for $260M: Sui DeFi in Crisis as Binance Steps In

Coindoo.com

Other articles published on May 22, 2025

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