$223M Cetus Hack Sends Shockwaves Through SUI Ecosystem
Massive hack on Cetus dents trust in SUI, triggering a 42% drop in trading volume.
The decentralized finance (DeFi) world was rocked this week after Cetus, a key protocol in the SUI blockchain ecosystem, suffered a devastating $223 million exploit. This major breach sent immediate ripples through the market—especially for SUI holders.
As news of the hack spread, SUI’s trading volume plunged by 42.82%, and its price dropped by over 5.22%. This wasn’t just due to panic-selling. The attack exposed deeper vulnerabilities in the ecosystem, leading many investors to temporarily pull liquidity from related tokens and projects.
Technical analysts point to existing weaknesses in DeFi protocol integrations and low post-hack recovery support as key reasons for the continued downward pressure.
While SUI had shown promise as a rising altcoin, this event could significantly slow adoption and investor confidence unless swift action is taken to improve security and transparency.
