{"id":514,"date":"2025-05-22T12:54:00","date_gmt":"2025-05-22T12:54:00","guid":{"rendered":"https:\/\/bitunikey.com\/news\/sui-lp-provider-cetus-allegedly-drained-of-11m-sui-hack-or-bug\/"},"modified":"2025-05-22T12:54:01","modified_gmt":"2025-05-22T12:54:01","slug":"sui-lp-provider-cetus-allegedly-drained-of-11m-sui-hack-or-bug","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/sui-lp-provider-cetus-allegedly-drained-of-11m-sui-hack-or-bug\/","title":{"rendered":"Sui LP provider Cetus allegedly drained of $11m SUI, hack or bug?"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Traders descended into a panic after LP provider Cetus appeared to be drained of $11 million worth of SUI from its liquidity pool. The team claimed it was an oracle bug, not an exploit.<\/p>\n<p>According to its most recent <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/CetusProtocol\/status\/1925515662346404024\" target=\"_blank\">post<\/a>, the Cetus team has temporarily halted their smart contracts to prevent any more losses after it detected an incident on its liquidity platform. The team claims that it is currently investigating the root cause of the alleged breach.<\/p>\n<p>\u201cA further investigation statement will be made soon. We are grateful for your patience,\u201d said the protocol.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8Alert Announcement \ud83d\udea8<\/p>\n<p>There was an incident detected on our protocol and our smart contract has been paused temporarily for safety. The team is investigating the incident at the moment. A further investigation statement will be made soon. We are grateful for your patience.<\/p>\n<p>&mdash; Cetus\ud83d\udc33 (@CetusProtocol) <a href=\"https:\/\/twitter.com\/CetusProtocol\/status\/1925515662346404024?ref_src=twsrc%5Etfw\">May 22, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>At around 11:00 UTC, traders noticed that the liquidity pool for the liquidity provider Cetus was being drained of tokens, bringing the token supply count to zero. Based on the screenshot circulating online, tokens on the protocol\u2019s leaderboard, including AXOL, SUIRI, HIPPO, among others, plummeted as low as 92% to at least 75% below the initial prices.<\/p>\n<p>At the moment, the platform remains dormant after smart contracts were paused, with all liquidity pools showing no numbers for its trading pairs. <\/p>\n<figure class=\"wp-block-image size-full\"><picture decoding=\"async\" class=\"wp-image-14381566\"><source type=\"image\/webp\" ><\/source><\/p>\n<\/picture><figcaption class=\"wp-element-caption\">The Cetus team has halted SUI smart contracts temporarily following an incident, May 22, 2025 | Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/app.cetus.zone\/pools\" target=\"_blank\">app.cetus.zone<\/a><\/figcaption><\/figure>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Despite news of the liquidity drain and the panic related to it circulating online, the SUI (SUI) token still saw modest gains. In the past 24 hours, it has gone up by 3.15%, reaching $4 per token. Its daily trading volume has increased by 112% compared to the previous trading day, reaching nearly $2.5 billion.<\/p>\n<p>In the past month, the token has been on an ongoing rally, going up by nearly 75%.<\/p>\n<p>Some traders who are members of the Discord server for Cetus have shared <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/LieutenantPonzi\/status\/1925512574583357843\" target=\"_blank\">screenshots<\/a> of messages from Cetus admins and developers. One of the members, Figure.Cetus, told traders to remain calm and that the team will publish an announcement soon.<\/p>\n<p>Figure.Cetus claimed that the liquidity provider was not hacked, instead the liquidity drain was due to a bug within the liquidity provider\u2019s oracle.<\/p>\n<p>In crypto liquidity pools, oracles serve to connect the pool\u2019s smart contracts to external data sources, such as real-world asset prices or market conditions. This allows the pool to provide accurate pricing, trade execution, and other features based on the external information it receives.<\/p>\n<p>At press time, the Cetus protocol team has yet to publish an official statement regarding its investigations. In addition, smart contracts are still temporarily paused.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Traders descended into a panic after LP provider Cetus appeared to be drained of $11 million worth of SUI from its liquidity pool. The team claimed it was an oracle&hellip;<\/p>\n","protected":false},"author":1,"featured_media":409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=514"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/514\/revisions"}],"predecessor-version":[{"id":515,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/514\/revisions\/515"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/409"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}