Cetus Protocol hacked; $11M SUI drained from LP pool

Cetus Protocol Main LP DEX on Sui Faces Major Exploit, Users Alerted

CetusProtocol , the main LP provider DEX on $SUI, has been hacked. Over $11 million in $SUI has been drained from SUI/USDC pool, with most tokens down more than 75% as pools are drained.

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No official statements have been released by Cetus Protocol or the Sui Foundation regarding the incident. The news highlighted when CetusProtocol X handle stating “There was an incident detected on our protocol and our smart contract has been paused temporarily for safety. The team is investigating the incident at the moment. A further investigation statement will be made soon. We are grateful for your patience.”

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Sui and Cetus Protocol

Concerns have been raised by reports of a hack of Cetus Protocol, a prominent decentralised exchange (DEX) on the blockchain. With more over $200 million in Total Value Locked (TVL) and about 10 million users, Cetus Protocol has been a major force in the Sui DeFi market. Its market position has been further cemented by its integration with Bitget Wallet and Phantom Wallet, two platforms. The development of Cetus Protocol has included security audits, which are carried out by companies such as Movebit and OtterSec. On April 22, 2025, the most current audit report was delivered, and it stated that 99% of the problems had been fixed. 

What is Sui

It is a Layer 1 blockchain that was created to enable the development of smart contracts and quick, safe, and scalable transactions. For high throughput and quick finality, this permissionless proof-of-stake (PoS) network uses an object-centric data format and the Move programming language. The project wants to enhance the Web3 user experience by lowering obstacles and providing an application platform that is easier to use.

The Sui protocol's native cryptocurrency, project, is utilised for governance, staking, and transaction fees. Additionally, its tokens are used to communicate with dApps on the network and pay for gas fees. 

Concern are raising regarding crypto hack

A growing number of events and the sizable amount of stolen assets have raised concerns about cryptocurrency thefts, underscoring the ecosystem's fragility. Significant losses have resulted from these thefts, especially in 2025, with the Coinbase incident posing a serious risk. The utilisation of sophisticated strategies by cybercriminals, rising pricing, and growing acceptance are some of the factors contributing to the surge in crypto hacking. 

Users advised to use caution, keep an eye on official channels for updates, and secure their valuables even though the specifics of the purported intrusion are yet unknown.