SUI-BASED TOKEN PRICES PLUNGE AMID APPARENT CETUS PROTOCOL EXPLOIT

Summary from the TLDR Crypto newsletter

Sui-based tokens like LOFI, HIPPO, and CETUS dropped over 50% on DEXs following an apparent exploit of Cetus Protocol, a leading DEX on Sui. Analysts estimate over $200M was drained, with $60M USDC bridged to Ethereum. The team has paused contracts and is investigating a suspected oracle-related vulnerability.