The wallet linked to what’s being referred to as a “vulnerability” or “leveraged point” – 0xe28b50 – contains over 12.9 million SUI, which is roughly equivalent to $54 million in value. However, further examination suggests that the attacker has more than triple this amount, with holdings amounting to about 32.9 million SUI. This implies that significant movement of funds and concealment strategies might be actively being employed.
According to Lookonchain, this underscores the magnitude of the hack and adds more stress to the decentralized finance (DeFi) structure of Sui.
The early indications of a problem became apparent when the USDC on Sui almost completely lost its peg and the prices of tokens in Cetus trading pools dropped by as much as 99%, causing widespread panic throughout the system. Liquidity providers have reported significant losses, and major token pairs remain dysfunctional as the attacker moves assets between networks.
In 2025, an attack on the Sui ecosystem became one of the biggest DeFi heists of the year, depleting approximately $260 million in funds. This is currently the most significant assault on the Sui system that has ever occurred.
The active status of the attacker’s digital wallet continues to cause worry, as it might be used to transfer funds anonymously via privacy mechanisms or tumblers, making it difficult to trace and recover them.
The Cetus group hasn’t provided any formal report on lessons learned or recovery strategies yet, due to the significant strain that current events are putting on the confidence of our community in the platform and the wider Sui DeFi sector.
In light of the ongoing investigations, I’m advising myself and others to steer clear of any contracts or pools that seem to be involved, and patiently wait for official updates directly from the developers of the cryptocurrency protocol.
In a brief comment, Binance CEO CZ acknowledged the situation and expressed solidarity:
“We are doing what we can to help SUI. Not a pleasant situation. Hope everyone stay SAFU!”
In simpler terms, Cz’s announcement suggests a possible collaboration among trading platforms and programmers to tackle the current issue. Yet, since there haven’t been any official announcements from Cetus or Sui’s main team, it’s advised that users exercise caution and abstain from interacting with affected pools or smart contracts until more information becomes available.
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2025-05-22 16:40