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Cetus, Sui's Largest DEX, Reports Illicit Outflow of Cryptocurrencies Worth $220 Million, Token Prices Plummet

2025/05/23 13:31 (Updated 2025/05/24 06:01)
CoinPost
Written by K.Kobayashi
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Cetus, Sui's Largest DEX, Reports Illicit Outflow of Cryptocurrencies Worth $220 Million, Token Prices Plummet

Illicit Outflow of Cryptocurrencies

The decentralized exchange (DEX) 'Cetus', built on the Sui (SUI) blockchain, announced on the 22nd that it had discovered a protocol issue and temporarily suspended its smart contracts.

Subsequently, it was reported that assets worth approximately $220 million (about 32 billion yen) were stolen from Cetus. As of 5:43 AM Japan time on the 23rd, a post on platform X stated that the cause of the issue had been identified, corrective measures were taken, and developers within the ecosystem were informed.

The CETUS token experienced a temporary 40% drop following this news. (Referencing CoinGecko)

About DEX

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Iolite Vol.14

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MAGAZINE

Iolite Vol.14

July 2025 issueReleased on 2025/05/30
Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.