Cetus Protocol Suffers $230 Million DeFi Exploit

A significant exploit impacting the Cetus Protocol has resulted in a loss of approximately $230 million from the decentralized exchange (DEX) operating on the Sui blockchain. The incident, which occurred on May 22, 2025, is attributed to an arithmetic overflow vulnerability within the protocol’s smart contracts. This exploit highlights ongoing security challenges within the DeFi space, prompting renewed scrutiny of auditing practices and risk management strategies across protocols.