According to @EmberCN, following the CETUS DEX hack on the SUI blockchain, SUI token experienced a minor price drop. Notably, prominent trader James Wynn responded by opening a 10x leveraged long position with 3.3 million SUI, totaling $13.22 million at an entry price of $4.01. This aggressive move suggests high confidence in SUI's short-term recovery despite recent security concerns. Traders should closely monitor SUI price action and on-chain activity for any volatility stemming from the hack and large leveraged positions. (Source: @EmberCN via Twitter)

According to Crypto Rover, Cetus, the main liquidity provider decentralized exchange (DEX) on the Sui network, was allegedly hacked, resulting in the loss of $11 million in SUI from the SUI/USDC pool. Most tokens on the platform have plummeted by over 80% as liquidity pools are emptied. This major security breach has triggered a sharp sell-off in SUI and related assets, raising serious concerns about trust and safety across the Sui ecosystem. Traders should closely monitor SUI price action and liquidity on decentralized exchanges, as the incident may create heightened volatility and influence cross-chain DeFi protocols. Source: Crypto Rover on Twitter, May 22, 2025.