Cetus on Sui got hacked, are you still interested in Sui?

[Vincom]

Sui hopped into the blockchain scene in 2023 and quickly grabbed investor attention. Its efficient solutions and an awesome price jump throughout 2024, soaring from 0.4 USD to 5 USD, really made waves. Lots of key opinion leaders often pointed to Sui's success to back up their market insights and show off their investment skills. I even found out about Sui from their YouTube videos!

However, just a few days ago, on May 22, 2025, Cetus, which is the biggest centralized exchange in the Sui ecosystem, got hit by an attack, leading to a loss of over 200M USD ^[1]. The fallout wasn't too bad: only a few tokens saw sharp price drops, and SUI's price barely budged. This was because the issue wasn't with Sui blockchain's tech but rather with Cetus's protocol. Still, Sui's actions afterward really got the community buzzing.

Sui froze the hackers' accounts through a consensus mechanism among its validators ^[2]. While this might seem like a sensible move to lessen the hack's impact, it definitely makes you wonder about how truly decentralized the Sui ecosystem actually is. Users suddenly realized Sui might not be as truly decentralized a blockchain as they'd thought, which means the perceived value of the Sui blockchain has officially taken a hit. After looking into it more, I found out that Solana, Bnb chain, and Polygon also seem to have similar "features" to help save their ecosystems in urgent situations during their early development stages.

I missed my shot with Sui and used to regret not accumulating SUI when many key opinion leaders predicted Sui would be as successful as Solana. But after this whole event, I'm honestly not very keen on investing in SUI anymore. I'm feeling good sticking with top coins like BTC, ETH, XRP, and ADA this season.

I'd like to get your opinion on this:

• Are you investing in SUI?
• Did you suffer any losses in the Cetus hack?
• Does the truth about Sui's decentralization make you question the value of the Sui blockchain?/li]

References:
1. Sui's Biggest Liquidity Provider Hacked for $223M, Causing Sui-Based Tokens to Plummet
2. Sui validators freeze majority of stolen funds in $220M Cetus hack

[Cointxz]

The problem is on the dapps security not on SUI blockchain which yo7 already mention. Why do you need to ask for opinion about SUI while the attack is not directly related to the blockchain.

SUI is a good project long term and an isolated case of hack will not gonna make their project affected. They already done a safety precautions to freeze the scammer wallet so the issue was already under control.

[dumpsterhawk]

I don't know how I feel about this. Halting the blockchain or freezing tokens is a very centralized operation, it does not matter how many people vote on the proposal to do it. It seems a lot of projects in the altcoin sphere try to redefine what it means to be decentralized to suit their lies. I think I will stay away from SUI.

[TastyChillySauce00]

• Are you investing in SUI?
• Did you suffer any losses in the Cetus hack?
• Does the truth about Sui's decentralization make you question the value of the Sui blockchain?/li]

1. I don't really invest in SUI but I staked money in some of the pools, luckily I supplied LP to momentum and not cetus
2. No
3. It might be a concern but honestly, a decentralization doesn't always mean the blockchain should run autonomously without intervention even if there's big hack going on, I don't think the fact that validators can freeze fund through consensus is a concern but if I'm being honest it does show us that SUI aren't exactly as decentralized as bitcoin.

[shinratensei_]

I don't know how I feel about this. Halting the blockchain or freezing tokens is a very centralized operation, it does not matter how many people vote on the proposal to do it. It seems a lot of projects in the altcoin sphere try to redefine what it means to be decentralized to suit their lies. I think I will stay away from SUI.

I agree with your statement but I also have some thoughts going on.
SUI is centralized and it's as centralized as any other PoS based blockchain, but I also don't condone with the hacking, it's wrong and money need to get recovered.

Hopefully cetus can recover back the money since it's also people's money being stolen here, but on the other side, sui centralized nature is a huge turn off.
At the very least, big chunk of money are not in the hand of hacker so there's possibility of recovery, hence the effort being made so far.

[$crypto$]

--Not invested in SUI, anyway I see no impact on the decline only that the Cetus token has decreased by 10% after this hacking incident.

--No losses were incurred --- but they lost a lot of money although the SUI Foundation has offered the hackers a refund in exchange for a large reward, but as far as I know there has been no response.

--Query what for? Most blockchains have been hacked and it's inevitable that if their security is compromised, maybe just maybe the SUI ecosystem can bounce back.

[dumpsterhawk]

--Not invested in SUI, anyway I see no impact on the decline only that the Cetus token has decreased by 10% after this hacking incident.

--No losses were incurred --- but they lost a lot of money although the SUI Foundation has offered the hackers a refund in exchange for a large reward, but as far as I know there has been no response.

--Query what for? Most blockchains have been hacked and it's inevitable that if their security is compromised, maybe just maybe the SUI ecosystem can bounce back.

They claim to be decentralized, but everything can be paused when a small group decides to pause it. If a hacker can't get away with the loot, then the system is centralized.

I agree with your statement but I also have some thoughts going on.
SUI is centralized and it's as centralized as any other PoS based blockchain, but I also don't condone with the hacking, it's wrong and money need to get recovered.

Yes, but they should not rush to deploy things like cetus and instead should invest in security. That they managed to pause everything on time is good for people's money, but it is not a good look for SUI as a blockchain. If they can freeze a hacker today, they can freeze you tomorrow. Remember that.