Sui Blockchain Hack Exceeds $260 Million, Disrupts Ecosystem

A major security breach on the Sui blockchain has resulted in a significant loss of over $260 million for the Cetus Protocol’s decentralized exchange (DEX). The exploit left the protocol drained of liquidity and triggered a market downturn. 15% decrease was recorded by SUI token price, with trading disruptions across various exchanges. SUI prices dropped significantly after the attack, causing panic within the ecosystem. The Cetus team has paused smart contracts for investigation. While the team investigates the hack, trading on centralized and decentralized platforms is disrupted as investors are left to navigate the volatile market landscape.