SUI Trading Volume Plummets 42% After $220 Million Cetus Hack

The cryptocurrency ecosystem, specifically the SUI blockchain, experienced a significant downturn following a major security breach on the decentralized exchange and liquidity hub, Cetus. On May 22, 2025, Cetus faced a hacking attack that reportedly drained approximately $223 million from its protocol. While the team managed to freeze some of the funds ($162 million), the attacker’s action caused a ripple effect through the SUI ecosystem, resulting in a substantial decline in trading volume and asset values.