Cetus Hacker Moves $10M SUI to Suilend Platform

Cetus hacker deposited $10 million SUI into Suilend on May 22, 2025, intending to borrow stablecoins using SUI tokens as collateral.

Uncovering the Deposit

On May 22, 2025, blockchain monitoring identified the Cetus hacker’s $10 million SUI deposit into Suilend, aiming to borrow stablecoins using SUI tokens as collateral. Past incidents reveal similar laundering strategies by hackers.

The Cetus hacker, unknown in identity, transferred funds through various addresses. The lack of official statements from key stakeholders further complicates the situation. Concerns rise over Suilend’s internal security systems.

As of May 23, 2025, there are no direct quotes from founders, core contributors, or major key opinion leaders (KOLs) regarding the specific incident of the Cetus hacker depositing $10 million SUI into Suilend. The lack of official commentary from various entities, including the Sui Foundation, Cetus team, or Suilend representatives, has been noted in the related reports.

Industry Implications

The crypto industry faces heightened risk perceptions, especially within Layer 1 ecosystems like Sui. Market-wide liquidity considerations are now more pressing. Analysts are increasing their vigilance of transactions on similar lending platforms.

Real-time monitoring by blockchain accounts like PeckShield continues critical in flagging suspicious activities. The crypto community remains alert for steps taken by protocols to mitigate risks and enhance transparency.

Historical trends show similar laundering events, with notable comparisons to Euler Finance and Mango Markets hacks. This reinforces broader concerns about security and regulatory responses in the cryptocurrency sector.