<ul><li>Cetus Protocol, the largest decentralized exchange on the Sui blockchain, was exploited for $260 million in a major DeFi attack on May 22, 2025.</li><li>The attacker manipulated liquidity pools using fake tokens and weaknesses in token verification, resulting in a massive siphoning of liquidity within minutes.</li><li>Sui Network and Sui Foundation responded by offering a $5 million bounty for information leading to the arrest of the attacker, aiming to protect the community and resolve the crisis.</li><li>Following the hack, SUI price dropped to around $3.68, reflecting investor concerns about DeFi security. Despite this, SUI's long-term fundamentals remain strong.</li></ul>

Cetus Hack on Sui Network: What Happened and Why SUI Price Is Crashing

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