Major Security Incident: Cetus Protocol Exploit (Latest News on SUI Crypto)

As of May 22, 2025, Sui (SUI) is trading at approximately $3.94, reflecting a slight decline of 0.25% over the past 24 hours. ## Stock market information for Sui (SUI) * Sui is a crypto in the CRYPTO market. * The price is 3.94 USD currently with a change of -0.01 USD (-0.00%) from the previous close. * The intraday high is 4.18 USD and the intraday low is 3.82 USD. ### Major Security Incident: Cetus Protocol Exploit Today, the Sui ecosystem faced a significant setback when Cetus Protocol, its largest decentralized exchange (DEX) and liquidity provider, was exploited. The attack drained over $260 million from its liquidity pools, primarily by manipulating price curves using spoof tokens. In response, Cetus has paused its smart contracts, and its native token, CETUS, has plummeted by 40% . This incident has triggered widespread concern across the Sui network, with some assets losing up to 80% of their value .([CoinDesk][1], [Crypto Briefing][2]) ### Market Sentiment and Price Outlook Despite the exploit, SUI had shown bullish momentum earlier this month, forming a rising channel and targeting a new all-time high around $6 . However, short-term forecasts suggest a potential pullback, with predictions indicating a drop to approximately $2.53 within the next five days . Long-term projections remain optimistic, with some analysts anticipating SUI reaching $8.10 by year-end, contingent on broader market conditions .([Crypto Basic][3], [CoinCodex][4], [Crypto Basic][5]) ### Ecosystem Developments Sui's decentralized exchange (DEX) trading volume has surged, reaching $48.4 billion in the first half of 2025, surpassing several major Layer 1 and Layer 2 blockchains . Additionally, Canary Capital has filed for a SUI-based exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission, reflecting growing institutional interest .([Brave New Coin][6], [Reuters][7]) ### Conclusion The recent exploit of Cetus Protocol poses a significant challenge for the Sui ecosystem. While short-term volatility is expected, the network's robust trading activity and institutional interest suggest potential for recovery and growth in the longer term.([CoinDesk][1]) [1]: https://www.coindesk.com/markets/2025/05/22/sui-networks-cetus-protocol-hit-in-apparent-hack-sending-token-prices-down-90?utm_source=chatgpt.com "Sui's Biggest Liquidity Provider, Cetus, Hit By $260M Hack - CoinDesk" [2]: https://cryptobriefing.com/cetus-protocol-hack-liquidity-drain/?utm_source=chatgpt.com "Sui DEX Cetus suspected of being hacked, over $260M drained from liquidity pools" [3]: https://thecryptobasic.com/2025/05/21/sui-forms-rising-channel-eyes-new-all-time-high-at-6/?utm_source=chatgpt.com "SUI Forms Rising Channel, Eyes New All-Time High at $6" [4]: https://coincodex.com/article/67782/sui-prediction-may-22-2025/?utm_source=chatgpt.com "Sui Crypto Gained 87.03% in Last Month and is Predicted to Drop to ..." [5]: https://thecryptobasic.com/2025/05/21/expert-predicts-xrp-price-for-2025-if-sui-hits-8-10-and-ethereum-reaches-4750/?utm_source=chatgpt.com "Expert Predicts XRP Price for 2025 if SUI Hits $8.10 and Ethereum Reaches $4,750" [6]: https://bravenewcoin.com/insights/sui-sui-price-prediction-sui-token-eyes-5-breakout-as-dex-volume-surges-and-unlock-pressure-eases?utm_source=chatgpt.com "Sui (SUI) Price Prediction: Sui Token Eyes $5 Breakout as DEX ..." [7]: https://www.reuters.com/technology/canary-capital-continues-flurry-us-crypto-etf-filings-with-sui-proposal-2025-03-17/?utm_source=chatgpt.com "Canary Capital continues flurry of US crypto ETF filings with Sui proposal"