Jessy, Golden Finance
On the evening of May 22, 2025, Beijing time, Cetus Protocol, the leading decentralized exchange of the SUI public chain, was attacked by hackers. Hackers used smart contract vulnerabilities to withdraw SUI tokens worth $11 million and transferred a large amount of USDC through a cross-chain bridge. The scale of stolen funds reached $260 million.
Currently, Cetus has issued a statement on X saying that for safety reasons, the smart contract has been temporarily suspended. The Sui public chain also stated that the attack was an independent incident of Cetus and had nothing to do with the security of the Sui chain itself. CZ also stated on X that he would do his best to help Sui, and the situation was not optimistic.
After the accident, the tokens of major projects on the Sui chain all plummeted, and the liquidity of most tokens disappeared directly.
(Image source @_FORAB)
On-chain data shows that the hacker started the action at 18:31, first withdrawing all SUI-denominated mining pool liquidity from the Cetu platform, and then transferring USDC to Ethereum through a cross-chain bridge. The whole process took only 30 minutes, and the hacker transferred more than 60 million US dollars in USDC, and exchanged 57.66 million US dollars for 22,114 ETH.
After the incident, Sui ecological tokens have plummeted, such as CETUS tokens, which have also fallen by 40%.
According to Slowmist Chief Security Information Officer @Iim23pds, the problem of his team is suspected to be a vulnerability caused by calculation accuracy issues.
At present, the Sui trading competition is in full swing on Binance, and the users who participated in this trading competition to earn points have undoubtedly suffered heavy losses. When the currency price plummeted, there was no way to save the losses of their wallets. Perhaps because of this, CZ stood up and said that the situation was not optimistic and he would do his best to help Sui.
Another thing that worries people is that Cetus itself may not have the ability to pay, and its market value is lower than the amount of stolen funds. At present, most of the stolen funds have been exchanged for Ethereum, and the possibility of recovering the stolen funds is not great.
As of press time, Cetus has not yet announced the results of the investigation.
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