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Sui-based liquid staking protocol, Haedal, has temporarily suspended its haeVault feature following a major exploit affecting the Cetus liquidity pool. The breach, which resulted in a loss of $223 million, has led Haedal to take immediate precautionary measures to ensure user safety.

Haedal’s Response to the Cetus Exploit

In an official statement, Haedal announced the temporary suspension of its haeVault feature, which depends on Cetus liquidity pools. The move aims to mitigate any potential risks stemming from the recent hack. The protocol emphasized its commitment to user safety, stating:

“User safety remains our top priority. haeVault will resume once all risks are resolved and the environment is secure.”

Haedal reassured its users that all other on-chain features and funds remain secure despite the Cetus exploit. The team is actively collaborating with Cetus and other projects within the Sui ecosystem to address the situation and provide necessary support.

The Impact on the Sui Ecosystem

The Cetus exploit has significantly disrupted the Sui ecosystem, as Cetus serves as a primary liquidity provider. Within 24 hours of the incident, tokens such as AXOL, HIPPO, and SQUIRT experienced near-total value loss due to the drained liquidity pool.

The CETUS token has also suffered, plummeting nearly 30% in value over the past day. As of this writing, CETUS is trading at $0.169. In contrast, the HAEDAL token has shown resilience, dipping only 0.7% and currently trading at $0.17.

The Sui token (SUI) has not escaped the fallout either, declining by 4.7% in the past 24 hours. After reaching a daily high of $4.18, it has dropped to $3.85, which is still 28% below its all-time high of $5.35 in January 2025.

Cetus’ $6 Million Bounty Offer

In an effort to recover the stolen funds, Cetus Protocol has announced a $6 million bounty for the attacker. The hacker is being asked to return 20,920 ETH (worth approximately $55.7 million) and all frozen assets on Sui. In return, the attacker would be allowed to retain 2,324 ETH and receive immunity from legal action.

This offer, however, comes with strict conditions. It is time-sensitive, and Cetus has warned that any attempt by the hacker to off-ramp or obscure the stolen funds through mixers will nullify the deal.

What’s Next for Investors?

For investors in the Sui ecosystem, it’s crucial to stay updated on developments surrounding the Cetus exploit and its implications. Here are a few tips to navigate this volatile period:

  • Monitor Token Prices: Keep a close eye on the performance of tokens like CETUS, HAEDAL, and SUI to make informed decisions.
  • Stay Informed: Follow official updates from Haedal, Cetus, and other Sui ecosystem projects for reliable information.
  • Assess Risks: Reevaluate your investment strategy and consider diversifying to mitigate potential losses.

While the Cetus exploit has undoubtedly shaken the Sui ecosystem, the swift response from Haedal and other stakeholders demonstrates a commitment to resolving the issue and restoring trust within the community.

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