{"id":28209,"date":"2025-05-23T04:16:48","date_gmt":"2025-05-23T04:16:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=28209"},"modified":"2025-05-23T04:16:48","modified_gmt":"2025-05-23T04:16:48","slug":"cetus-protocol-on-sui-network-hacked-and-prices-tank-everything-you-need-to-know","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=28209","title":{"rendered":"Cetus Protocol on Sui Network Hacked and Prices Tank: Everything You Need To Know"},"content":{"rendered":"<div>\n<p>Cetus Protocol, a leading DEX on the Sui Network, has been hacked, losing at least $200 million. CETUS, SUI, and Sui network meme coins crashed as a result. Here\u2019s everything you need to know about the Cetus Protocol hack.<\/p>\n<p><span data-preserver-spaces=\"true\">There\u2019s always a first for everything. Ethereum faced a hard fork barely a year after launching. While not a hack, the damage and controversy impacted Ethereum, causing splits in blockchain ideology.<\/span><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Cetus Protocol Hacked<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">Launched in May 2023, the Sui Network enjoyed a smooth run until today, when the Cetus Protocol fell victim to hackers. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Cetus(<a href=\"https:\/\/twitter.com\/CetusProtocol?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@CetusProtocol<\/a>) on <a href=\"https:\/\/twitter.com\/hashtag\/SUI?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#SUI<\/a> was hacked and lost more than $260M!<\/p>\n<p>The hacker is converting the stolen funds into <a href=\"https:\/\/twitter.com\/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$USDC<\/a> and cross-chaining to <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#Ethereum<\/a> to exchange for <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$ETH<\/a>, with ~60M <a href=\"https:\/\/twitter.com\/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$USDC<\/a> already cross-chained.<a href=\"https:\/\/t.co\/b0uGu8icXr\" target=\"_blank\" rel=\"nofollow\">https:\/\/t.co\/b0uGu8icXr<\/a><a href=\"https:\/\/t.co\/0BpKSaygmr\" target=\"_blank\" rel=\"nofollow\">https:\/\/t.co\/0BpKSaygmr<\/a> <a href=\"https:\/\/t.co\/txfxLoImOd\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/txfxLoImOd<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1925520316044046809?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">May 22, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">The protocol lost between $220 and $230 million in an incident that sent shockwaves through the crypto and DeFi communities.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Hacks not only result in the loss of valuables, data, and funds but also have severe side effects, sometimes even forcing sell-offs in some of the <\/span><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-crypto-to-buy\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\"><span data-preserver-spaces=\"true\">best cryptos to buy<\/span><\/a><span data-preserver-spaces=\"true\">. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The Cetus Protocol hack triggered a sell-off, causing CETUS to plummet by over 40%<\/span><span data-preserver-spaces=\"true\"><span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">\u00a0and trail some of the\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-solana-meme-coins\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">best Solana meme coins<\/a><\/span>.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full\" src=\"https:\/\/www.tradingview.com\/x\/5DVZAbO1\/\" width=\"1499\" height=\"860\"><\/p>\n<p><strong><span data-preserver-spaces=\"true\">(<\/span><a class=\"general-link\" href=\"https:\/\/www.tradingview.com\/x\/5DVZAbO1\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">CETUSUSDT<\/span><\/a><span data-preserver-spaces=\"true\">)<\/span><\/strong><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">What is Cetus Protocol?<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">So, what happened? The Cetus Protocol is a decentralized exchange (DEX) on the Sui Network.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"> It utilizes the concentrated liquidity market maker (CLMM) model pioneered by Uniswap and incorporates features from Trader Joe\u2019s CLMM design. <\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"Cetus Protocol Explained - 5 Things YOU Need to Know\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/w8mhL7bLllg?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><span data-preserver-spaces=\"true\">Beyond token swapping, Cetus is one of the largest liquidity providers on Sui.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Within the Sui ecosystem, users primarily use Cetus to swap SUI\/USDC, but as a DEX, it supports hundreds of liquidity pools for various tokens minted on the network. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Over time, Cetus became a hub for trading meme coins on the scalable platform.<\/span><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">What Happened?<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">As a core DEX on Sui, Cetus was (as expected) a prime target for hackers. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">On May 22, they exploited multiple liquidity pools, draining $11 million from the SUI\/USDC pool and wiping out funds from various meme coin pools, causing token prices to crash.<\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/GrjEV1eW4AAjdS6?format=png&amp;name=900x900\" alt=\"Image\"><\/p>\n<p><strong>(<a class=\"general-link\" href=\"https:\/\/x.com\/0xFitz\/status\/1925504887351062722\" target=\"_blank\" rel=\"noopener nofollow\">Source<\/a>)<\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">The Lombard Staked BTC (LBTC) pool was among the hardest hit, nearly wiped out entirely.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">How did this Cetus Protocol hack happen? <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Analysts report that hackers gained control of all SUI-denominated liquidity pools. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">They then minted or deposited near-zero-value spoof tokens to manipulate CLMM price curves and reserves, extracting real assets without depositing equivalent value. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Seems like all <a href=\"https:\/\/twitter.com\/CetusProtocol?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@CetusProtocol<\/a> LP were drained<\/p>\n<p>Looking into tx, the likely exploit path was:<br \/>1. Swap in spoof token (e.g. BULLA \u2192 SUI), taking advantage of miscalculated price curve or broken reserve math.<\/p>\n<p>2. Add liquidity with a near-zero amount, to manipulate internal LP\u2026 <a href=\"https:\/\/t.co\/FtpYRSpwWW\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/FtpYRSpwWW<\/a><\/p>\n<p>\u2014 sashko<img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.1.0\/72x72\/1f1fa-1f1e6.png\" alt=\"\ud83c\uddfa\ud83c\udde6\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> (@d0rsky) <a href=\"https:\/\/twitter.com\/d0rsky\/status\/1925513235987394721?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">May 22, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">This was possible due to a rounding bug in the liquidity pool logic.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.1.0\/72x72\/1f510.png\" alt=\"\ud83d\udd10\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> How <a href=\"https:\/\/twitter.com\/CetusProtocol?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@CetusProtocol<\/a> was hacked <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.1.0\/72x72\/2753.png\" alt=\"\u2753\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><\/p>\n<p>A hacker abused a rounding bug in the liquidity pool logic.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.1.0\/72x72\/1f41b.png\" alt=\"\ud83d\udc1b\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> The bug?<br \/>Cetus miscalculated LP share:<br \/>If you added 1 token, it sometimes gave you the share as if you added 2.<br \/>Sounds stupid, but it worked.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.1.0\/72x72\/1f468-200d-1f4bb.png\" alt=\"\ud83d\udc68\u200d\ud83d\udcbb\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> The exploit:<br \/><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.1.0\/72x72\/1f539.png\" alt=\"\ud83d\udd39\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Flashloan\u2026 <a href=\"https:\/\/t.co\/Ibj3uf8KJG\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/Ibj3uf8KJG<\/a><\/p>\n<p>\u2014 Sui Corner (@SuiCorner) <a href=\"https:\/\/twitter.com\/SuiCorner\/status\/1925562114925584606?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">May 22, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Although the Oracle was expected to detect this, Cetus attributed the exploit to a pricing Oracle malfunction. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">By then, hackers had stolen tokens worth over $200 million.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Approximately $60 million in USDC was quickly bridged to Ethereum and swapped for ETH within an hour. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">But there is good news: Around $160 million has reportedly been frozen and will be returned to Cetus pools.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.1.0\/72x72\/1f6a8.png\" alt=\"\ud83d\udea8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\">ANNOUNCEMENT <\/p>\n<p>As of earlier today, we have confirmed that an attacker has stolen approximately $223M from Cetus Protocol. We have took immediate action to lock our contract preventing further theft of funds.<\/p>\n<p>$162M of the compromised funds have been successfully paused. We are\u2026<\/p>\n<p>\u2014 Cetus<img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.1.0\/72x72\/1f433.png\" alt=\"\ud83d\udc33\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> (@CetusProtocol) <a href=\"https:\/\/twitter.com\/CetusProtocol\/status\/1925567348586815622?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">May 22, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Damage Control Underway at SUI<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">As token prices plummeted, Cetus Protocol <a class=\"general-link\" href=\"https:\/\/x.com\/CetusProtocol\/status\/1925515662346404024\" target=\"_blank\" rel=\"noopener nofollow\">froze<\/a> its contracts to halt further losses. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">It also promised a thorough investigation.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Sui Network developers have pledged support. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We\u2019ve learned that a Cetus smart contract was hacked this morning for approximately $223M and Cetus subsequently paused their smart contracts to prevent further theft. <\/p>\n<p>Cetus worked together with the other DeFi protocols, the Sui Foundation, and the Sui validators to\u2026 <a href=\"https:\/\/t.co\/Y1iw2sNnPW\" target=\"_blank\" rel=\"nofollow\">https:\/\/t.co\/Y1iw2sNnPW<\/a><\/p>\n<p>\u2014 Sui (@SuiNetwork) <a href=\"https:\/\/twitter.com\/SuiNetwork\/status\/1925572334054002774?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">May 22, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Amid the chaos, Changpeng Zhao, the Binance co-founder, said they would \u201cdo everything\u201d to <\/span><a class=\"general-link\" href=\"https:\/\/x.com\/cz_binance\/status\/1925521793231548508\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">assist<\/span><\/a><span data-preserver-spaces=\"true\"> Sui, noting that the hack is \u201cnot a pleasant situation.\u201d<\/span><\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Next 1000x Crypto \u2013 11 Coins That Could 1000x in 2025<\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Cetus Protocol Hack, CETUS And SUI Prices Crash<\/h3>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <span data-preserver-spaces=\"true\">Cetus Protocol hacked, loses over $230 million <\/span>    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <span data-preserver-spaces=\"true\">Hackers targeted SUI-denominated liquidity pools<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span>    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <span data-preserver-spaces=\"true\">CETUS and SUI prices drop<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span>    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <span data-preserver-spaces=\"true\">Team and community investigating the incident, $160 million reportedly recovered <\/span>    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/altcoins\/cetus-protocol-on-sui-network-hacked-and-prices-tank-everything-you-need-to-know\/\">Cetus Protocol on Sui Network Hacked and Prices Tank: Everything You Need To Know<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cetus Protocol, a leading DEX on the Sui Network, has been hacked, losing at least $200 million. CETUS, SUI, and Sui network meme coins crashed as a result. Here\u2019s everything you need to know about the Cetus Protocol hack. There\u2019s always a first for everything. Ethereum faced a hard fork barely a year after launching. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-28209","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/28209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28209"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/28209\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}