According to Lookonchain, Cetus Protocol on the Sui blockchain was hacked, directly triggering a sharp drop in $SUI token price. In response to the volatility, top trader @JamesWynnReal opened a long position on $SUI using 10x leverage at $4.01 and is currently holding an unrealized profit of $257,000. This incident highlights elevated risk but also significant trading opportunities in $SUI, as rapid price swings attract high-leverage traders following protocol-related exploits (source: Lookonchain, Twitter, May 22, 2025).

According to Lookonchain, Cetus Protocol on the SUI blockchain suffered a major security breach resulting in the theft of over $260 million. The attacker has been actively converting the stolen assets into USDC and using cross-chain bridges to move approximately $60 million USDC to the Ethereum network, where the funds are being exchanged for ETH (source: Lookonchain, suiscan.xyz, intel.arkm.com). Traders should closely monitor SUI and USDC liquidity as this hack could cause significant volatility and downward pressure on SUI token prices and impact USDC and ETH liquidity pools on both SUI and Ethereum networks.