$223M Heist Rocks Cetus DEX, Yet SUI Rebounds With Market Optimism

Cetus DEX lost $223M in a major exploit but froze $162M and pledged full user compensation, boosting community confidence.

Sui ecosystem tokens show signs of recovery as validators block malicious wallets and Scallop pauses borrowing to safeguard users.

SUI rebounded 9.37% in 24h after dropping to $0.70, with CETUS and WAL also rallying, signaling resilience and investor optimism.

Cetus, a decentralized exchange built on the Sui blockchain, experienced a major exploit, resulting in over $223 million in stolen assets. A surge in activity on May 22 raised alarms, with transaction volume skyrocketing to $2.9 billion—far above its usual $320 million daily average. Web3 researcher COMDARE3 flagged the issue, sharing alarming market data that showed token prices plummeting. The attacker reportedly bridged at least $63 million to Ethereum. Over 20,000 ETH was sent to a new wallet in a single transaction. The incident triggered a protocol pause and an immediate investigation.

A Cetus representative confirmed that $162 million had already been frozen. Moreover, they’re working with the Sui Foundation and key ecosystem members to recover the rest. Despite the blow, Cetus pledged to compensate affected users using its treasuries, provided recovery efforts succeed. Interestingly, the compensation process will begin even if the community vote fails. This commitment helped ease community fears.

Sui Ecosystem Responds Swiftly

The Sui blockchain community acted fast. Validators began ignoring transactions linked to flagged wallet addresses, adding an extra layer of protection. Consequently, the attack’s ripple effect forced Sui-based money market Scallop to suspend borrowing temporarily. The project assured users that their funds remain safe and that further updates are coming soon.

Some ecosystem tokens crashed. For instance, AXOL lost nearly 99.5% of its value, while LBTC dropped sharply on Cetus. Outside the DEX, however, LBTC recovered 4% within 24 hours, showing early signs of resilience. Meanwhile, the attacker’s wallet still holds tens of millions in various tokens, including $52 million in SUI.

SUI Price Action and Market Sentiment

Despite the exploit, SUI’s price rebounded strongly, climbing 9.37% in 24 hours. Other Sui-linked tokens like CETUS, WAL, and DEEP also gained 33%, 8%, and 7.9%, respectively. This suggests growing confidence in the ecosystem’s recovery efforts. From mid-April to mid-May, SUI had surged past $2.00, doubling its value. However, it retraced to $0.70 during late May as selling pressure intensified.

Source: Ted(X)

Currently, SUI trades below major moving averages but is stabilizing between $0.70 and $0.80. Moreover, consolidation signals a possible reversal. Hence, market participants are watching closely for a sustained

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