Sui’s Biggest DEX Exploited for $220M

Sui’s Biggest DEX Exploited for $220M

Cetus, the largest decentralized exchange and liquidity provider on the Sui blockchain, has suffered a massive exploit resulting in the theft of $220 million of digital assets. The attacker exploited vulnerabilities in Cetus’s smart contracts by sending “spoof,” or fake, tokens with no real value to the protocol. The fake tokens manipulated Cetus’s price oracles and reserve calculations, tricking the protocol into treating them as valuable asset…

$160M in stolen funds puts Sui’s decentralization to the test

This is a segment from the 0xResearch newsletter. To read full editions, subscribe. Sui’s largest decentralized exchange, Cetus, was exploited on May 22 for over $220 million — the most severe DeFi incident in the network’s short history. It raised difficult questions about validator power, decentralization and reactive governance. The attacker exploited faulty math in Cetus’ smart contracts by using spoofed tokens and miscalculated liquidity ra…

$160M in stolen funds puts Sui's decentralization to the test

Response to the DEX exploit reveals tensions between credible neutrality and crimefighting

Still Hackable, Still Reversible: Sui’s $220M Cetus Breach Exposes DeFi’s Flaws

On May 22, 2025, the Sui blockchain experienced a significant security breach when its largest decentralized exchange (DEX), Cetus Protocol, was exploited, resulting in the loss of over $220 million in digital assets.The attackers manipulated Cetus's oracle pricing mechanism by introducing spoofed tokens named BULLA and MOJO. This manipulation allowed them to exploit flawed reserve calculations and price curves, effectively draining liquidity po…

SUI Network Adds Whitelist and Restore Privileges—Is a Hacker Fund Return Incoming?

Sui Network is reported to have deployed a whitelist function as part of the preparation to return the frozen stolen money to Liquidity Providers.  Of the over $220 million reportedly stolen, $63 million is said to have been bridged to the Ethereum network, making it almost impossible to recover it.  Months after we covered a major exploit on the Sui Network that saw hackers steal 6.2 million SUI tokens, Cetus has confirmed another occurrence th…

Cetus offers $6M bounty after $220M hack as Sui faces decentralization debate – MAXBIT

Sui-based DEX Cetus offered the hacker a $6 million white hat bounty offer as the protocols are trying to recover the stolen $220 million, with $162 million remaining frozen. Cetus is offering a $6 million white hat bounty in an effort to recover $220 million in stolen digital assets, while emergency responses from the Sui...