According to Lookonchain, CetusProtocol on the SUI blockchain suffered a hack resulting in losses exceeding $260 million, with the attacker actively converting the stolen assets into USDC and bridging approximately $60 million to Ethereum for exchange into ETH (source: Lookonchain, suiscan.xyz, intel.arkm.com). This event has heightened trader concerns about cross-chain vulnerability risks, leading to increased volatility in SUI, USDC, and ETH markets. Traders are closely monitoring liquidity pools and bridge activity for abnormal flows that could affect token prices and on-chain liquidity, especially as large asset movements may trigger further price disruptions and potential arbitrage opportunities.

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.