Sui Network’s Cetus Protocol Hit in Apparent Hack, Sending Token Prices Down 90%

Cetus Protocol, the largest DEX and liquidity provider on the Sui network, has been compromised in an exploit that drained its liquidity pools and triggered a trading halt.
The team has paused the smart contracts and is actively investigating, it said in an X post.

According to early analysis, the attacker used spoof tokens like BULLA to exploit broken price curves and reserve calculations.

They then added near-zero liquidity to manipulate internal LP state and repeatedly removed real assets like SUI and USDC without depositing anything meaningful.

Cetus confirmed the incident on X, saying the contract has been paused “for safety” and that a detailed statement will follow.

CETUS is down 40% in the past few hours, while Sui-based memecoins like BULLA and MOJO have dropped over 90%.