Crypto DeFi Project Cetus Protocol Suffers Security Breach

The protocol’s native token, CETUS, dropped as much as 18 percent following the news.

Advertisement
By Sidhartha Shukla, Bloomberg  | Updated: 23 May 2025 13:23 IST
Highlights
  • The project confirmed the incident in a post on X
  • The attacker deploys spoof tokens to manipulate price curves
  • A further investigation statement is expected to be made soon

The Cetus Protocol is now trying to prevent further theft of funds

Photo Credit: Pexels/ Shoma Shimazaki

Cetus Protocol, a decentralised crypto exchange and key liquidity provider on the Sui blockchain, said it lost approximately $223 million (roughly Rs. 1,910 crore) in a security breach.

The project confirmed the incident in a post on X, formerly Twitter, stating that its smart contracts had been paused “temporarily for safety” and that a full investigation is underway. “The team is investigating the incident at the moment. A further investigation statement will be made soon,” the post said.  

Advertisement

“We have took immediate action to lock our contract preventing further theft of funds. $162 million (roughly Rs. 1,387 crore) of the compromised funds have been successfully paused,” the firm said in a statement to Bloomberg News. “We are working with the Sui Foundation and other ecosystem members right now on next-step solutions, with the goal of recovering the remaining stolen funds.” 

The protocol's native token, CETUS, dropped as much as 18 percent following the news, data from CoinGecko show.

Advertisement

“The attacker exploited vulnerabilities in Cetus Protocol's smart contracts by deploying spoof tokens to manipulate price curves and reserve calculations,” said Deddy Lavid, CEO of blockchain security firm Cyvers. “This allowed them to extract real assets from multiple liquidity pools, including the SUI/USDC pool.”

© 2025 Bloomberg LP

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

 

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Advertisement
Popular Mobile Brands
  1. Honor X6e Launched With 7,500mAh Battery
  2. JBL Bar 1000MK2 Review: More Than Just an Audio System
  3. Redmi K100 Series Phone Visits Geekbench With This Flagship Snapdragon SoC
  4. Android 17 Beta Rolls Out to Motorola Edge 60 Pro With These Features
  1. Redmi Turbo 6 Max Render Leaks Ahead of Launch: Expected Specifications
  2. Gemini Can Now Read, Summarise, and Draft Replies to Comments in Google Docs 
  3. Paytm Introduces Split Bills for Shared Group Expenses on Its App
  4. India's Telecom User Base Rises in June, Airtel Tops Subscriber Additions: TRAI
  5. Crypto Hacks Top $1 Billion in H1 2026 as Ethereum and Solana Lead Losses: Report
  6. 1inch Introduces Aqua to Unite DeFi Liquidity on 13 Chains
  7. Wuchang: Fallen Feathers Sequel Announced by 505 Games With Original Creator's New Studio Involved
  8. WhatsApp Reportedly Testing Home Screen Voice Message Widget for Android Users
  9. Samsung Galaxy S26 FE Charging Speed Upgrade Seems Unlikely as Phone Reportedly Appears on a Certification Site
  10. Google Launches Gemini-Powered Ask Google Pay in India With a Dedicated In-App AI Chatbot
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2026. All rights reserved.