Blockchain security firm SlowMist has published a comprehensive report on the $230 million hack of Cetus Protocol, a decentralized exchange on the SUI blockchain. The exploit, which happened on May 22, 2025, led to significant losses, raising questions about how it happened.
According to SlowMist, the malicious attackers exploited a vulnerability in the smart contract of the Automated Market Maker, bypassing the checked_shlw overflow detection in the get_delta_a function. This manipulation forced the system to miscalculate the amount of SUI tokens, draining the pool of hundreds of millions of dollars.
The hack highlights the growing security problem in DeFi. Many call for a more stringent approach towards security to curb this menace.