The Cetus Protocol, a number one decentralized change on the SUI blockchain, was hit by a large hack, leading to losses exceeding $223 million, prompting swift motion from the group and elevating issues throughout the DeFi neighborhood.
$260M hacked from Cetus Protocol
On Could 22, 2025, Cetus Protocol, the most important decentralized change (DEX) and liquidity supplier on the SUI blockchain, fell sufferer to a big exploit. A vulnerability in its sensible contract was exploited, permitting the attacker to empty liquidity swimming pools totally. The exploit led to an estimated lack of over $200 million, although Cetus later confirmed the determine to be round $223 million.
We’ve realized {that a} Cetus sensible contract was hacked this morning for roughly $223M and Cetus subsequently paused their sensible contracts to forestall additional theft.
Cetus labored along with the opposite DeFi protocols, the Sui Basis, and the Sui validators to… https://t.co/Y1iw2sNnPW
— Sui (@SuiNetwork) Could 22, 2025
The assault prompted a dramatic spike in transaction quantity, with Cetus processing $2.9 billion in transactions on Could 22, a stark distinction to the $320 million recorded the day before today, as funds had been quickly siphoned out of the protocol.
Hacken, a crypto cybersecurity firm, reported that not less than $63 million had already been bridged to Ethereum, with 20,000 ETH transferred to a recent pockets in a single transaction.
Cetus labored alongside the Sui Basis, Sui validators, and different DeFi protocols to mitigate the harm.
By the night of Could 22, the group introduced that they had efficiently frozen $162 million of the stolen funds, leaving roughly $63 million unrecovered. The hacker was reportedly making an attempt to transform the remaining belongings into USDC and bridge them to Ethereum for ETH, a typical tactic to obscure the path of stolen funds.
🚨ANNOUNCEMENT
As of earlier at this time, we’ve got confirmed that an attacker has stolen roughly $223M from Cetus Protocol. Now we have took speedy motion to lock our contract stopping additional theft of funds.
$162M of the compromised funds have been efficiently paused. We’re…
— Cetus🐳 (@CetusProtocol) Could 22, 2025
Catastrophe Strikes SUI Ecosystem Tokens with Heavy Losses
The hack despatched shockwaves by means of the SUI ecosystem, with speedy repercussions on token costs. The SUI/USDC liquidity pool was almost emptied, inflicting token costs on the DEX to plummet by over 75%.
Supply: DexScreaner
The CETUS token noticed a pointy decline, dropping 40% in worth as buying and selling halted on the platform.
Supply: CoinGecko
The DEX market throughout the SUI ecosystem was severely disrupted, with many belongings shedding greater than half their worth in 24 hours.
The broader SUI ecosystem additionally felt the warmth, with some X posts describing the scenario as “the SUI ecosystem drowning in flames.” The neighborhood expressed a mixture of frustration and concern, with customers urging warning whereas awaiting updates.
Binance CEO Changpeng Zhao (CZ) voiced help, stating on X, “We are doing what we can to help Sui,” signaling potential help from main gamers within the crypto house.
We’re doing what we are able to to assist SUI. Not a nice scenario. Hope everybody keep SAFU!
— CZ 🔶 BNB (@cz_binance) Could 22, 2025
$160M Has Been Recovered
As of Could 23, 2025, Cetus and the Sui Basis have made vital strides in addressing the hack. In a follow-up publish, Cetus shared that that they had engaged the broader ecosystem, together with the Sui group, to help within the investigation and backbone.
📜 Expensive Sui neighborhood, thanks to your persistence whereas our group works on the incident investigation and backbone.
Since taking the actions indicated in our earlier announcement, we’ve got additionally accomplished the next:
1. We engaged the broader ecosystem, Sui group, and associated… https://t.co/Gs1EWXZ6AD
— Cetus🐳 (@CetusProtocol) Could 22, 2025
SUI co-founder and CPO mentioned the exploit in a neighborhood house, confirming that $150–160 million had been secured, with efforts ongoing to recuperate the remaining $60 million. In addition they promised to refund affected customers, a transfer that might assist restore belief.
SUI co founder and CPO are speaking on areas in regards to the current Cetus exploit!
They confirmed that over 150-160M$ of 220M hack quantity has been frozen !
Relaxation 60M has gone however might be labored on undoubtedly !
Stolen funds might be refunded to customers who suffered the exploit!
Appears no… pic.twitter.com/DdxTeVrwBQ
— Crypto Masters (@CryptoMasterCom) Could 22, 2025
The hacker’s actions are below scrutiny, with blockchain analysts monitoring the funds to establish potential restoration alternatives. Cetus has not but resumed buying and selling, and customers are suggested to stay cautious because the scenario develops.
The incident has additionally drawn consideration to the broader DeFi panorama, with some specialists calling for stricter safety measures throughout protocols. Whereas Cetus has labeled the occasion a “bug,” the dimensions of the exploit underscores the necessity for rigorous sensible contract audits, particularly for platforms dealing with vital liquidity like Cetus, which is a cornerstone of the SUI ecosystem.