Haedal Halts haeVault After $223M Cetus Exploit Shakes Sui Ecosystem
In the wake of a devastating $223 million exploit targeting the Cetus liquidity pool, Sui-based liquid staking protocol Haedal has announced a temporary suspension of its haeVault feature. The move comes as a precautionary step, given haeVault’s dependency on Cetus infrastructure.
User Safety Comes First
In an official statement, Haedal emphasized that protecting users is its top priority:
“User safety remains our top priority. haeVault will resume once all risks are resolved and the environment is secure,” said the Haedal team.
The protocol reassured users that aside from the suspended haeVault feature, all other on-chain functions and assets remain fully secure. The team also confirmed ongoing collaboration with both Cetus and other projects in the Sui ecosystem to manage the aftermath of the exploit.
Massive Impact Across Sui Tokens
The exploit has had a ripple effect across the Sui ecosystem. With Cetus serving as the primary liquidity provider (LP), several Sui-based tokens — including AXOL, HIPPO, and SQUIRT — suffered near-total value loss as liquidity was drained.
The market reaction was swift:
- CETUS token plunged nearly 30%, trading at $0.169 (as per CoinGecko).
- HAEDAL token held up better, dropping just 0.7%, now trading at $0.17.
- The Sui token (SUI) fell over 4.7%, slipping from $4.18 to $3.85 — still down about 28% from its January 2025 all-time high of $5.35.
Cetus Issues Bounty to Recover Stolen Funds
In a bold move, Cetus Protocol has put forward a $6 million bounty to encourage the attacker to return stolen assets. The terms?
- Return 20,920 ETH (~$55.7M) and all frozen assets on Sui.
- Keep 2,324 ETH as a “reward.”
- Receive immunity from legal action.
However, there’s a catch: The offer is time-sensitive. If the hacker attempts to off-ramp or funnel the funds through mixers, the deal is immediately void.
Final Thoughts
The Cetus exploit marks one of the most severe incidents in the Sui ecosystem to date, and protocols like Haedal are taking quick action to protect users and mitigate further fallout. As the situation develops, all eyes remain on how the Sui network and its community will respond.
Stay tuned for updates as more details emerge.
