Sui Ecosystem Rocked by $200M ‘Oracle Manipulation Attack’ on Its Largest DEX
Tokens in the Sui ecosystem have been sent tumbling due to a $200 million oracle exploit that led to liquidity pools being drained.
Attackers exploited vulnerabilities in Cetus Protocol's smart contracts using spoof tokens to manipulate price calculations and drain liquidity pools on Sui's largest decentralized exchange.
Popular Sui tokens including Lofi, Sudeng, and Squirtle plummeted 76-97% within an hour, while the Cetus token itself dropped 53% as 46 Sui tokens posted double-digit losses.
The attacker has $164 million in a Sui wallet and already bridged $61.5 million in USDC to Ethereum, with Cetus pausing contracts and investigations ongoing while Sui's native token surprisingly rose 2.2%.