According to Cas Abbé on Twitter, the CETUS Protocol hack has been officially confirmed with nearly $220 million in funds compromised. So far, $160 million has been successfully frozen, while the CETUS team is collaborating with SUI Foundation, Binance, and other partners to recover the remaining $60 million from the hackers (source: Cas Abbé, Twitter, May 22, 2025). In response, the $CETUS token has dropped over 15% in value. This significant breach highlights the ongoing risks in DeFi protocols and underscores the importance of robust security measures for crypto traders and investors. The incident has triggered heightened volatility and may impact sentiment across decentralized finance and SUI ecosystem-related tokens.

According to Lookonchain, Cetus Protocol on the Sui blockchain was hacked, directly triggering a sharp drop in $SUI token price. In response to the volatility, top trader @JamesWynnReal opened a long position on $SUI using 10x leverage at $4.01 and is currently holding an unrealized profit of $257,000. This incident highlights elevated risk but also significant trading opportunities in $SUI, as rapid price swings attract high-leverage traders following protocol-related exploits (source: Lookonchain, Twitter, May 22, 2025).

According to Lookonchain, Cetus Protocol on the SUI blockchain suffered a major security breach resulting in the theft of over $260 million. The attacker has been actively converting the stolen assets into USDC and using cross-chain bridges to move approximately $60 million USDC to the Ethereum network, where the funds are being exchanged for ETH (source: Lookonchain, suiscan.xyz, intel.arkm.com). Traders should closely monitor SUI and USDC liquidity as this hack could cause significant volatility and downward pressure on SUI token prices and impact USDC and ETH liquidity pools on both SUI and Ethereum networks.