Cetus Protocol, the largest decentralized exchange (DEX) on the Sui network, has been compromised in a significant exploit resulting in drained liquidity pools and a halt in trading. The attacker manipulated price curves and reserve calculations using spoof tokens such as BULLA, allowing them to extract real assets. Following the incident, Cetus has paused its smart contracts for safety and is conducting an investigation. The CETUS token has already seen a decline of 40% within hours, while Sui-based meme coins have plummeted over 90%. The Cetus team stated that a detailed report will be released to address the exploit.

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