According to Milk Road (@MilkRoadDaily), Cetus, a major decentralized exchange (DEX) on the Sui blockchain, suffered a significant exploit resulting in over $11 million drained from the SUI/USDC liquidity pool. This breach has triggered a rapid sell-off, with most SUI-based tokens plummeting 75% to 80% in value within hours of the incident. The security breach has led to heightened volatility and eroded trader confidence in the Sui ecosystem, causing SUI trading volumes to spike and liquidity to thin across multiple exchanges. Traders are advised to monitor SUI and related tokens closely, as further downside and contagion risks may impact broader DeFi and altcoin markets. Source: https://twitter.com/MilkRoadDaily/status/1925520489159827816