Cetus, a decentralized exchange (DEX) built on the Sui blockchain, is suspected to be undergoing a massive exploit that may have drained more than $200 million worth of digital assets.
Pseudonymous Web3 researcher COMDARE3 posted on X that “users report” that Sui-based DEX Cetus is being exploited.” He also shared a screenshot of Cetus market data on DEX Screener, showing many assets losing well over half of their value over the last 24 hours.
Cetus did not immediately respond to Cointelegraph’s request for comments about the suspected exploit.
Cetus pool data shows that as of the time of writing, the DEX processed $2.9 billion worth of transactions on May 22, an 89% increase from the $320 million reported on May 21. This heightened level of activity may have been caused by funds being siphoned out of the protocol.
Some tokens, such as Lombard Staked BTC (LBTC) or AXOLcoin (AXOL) lost the near