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SUI

Carmaker DeLorean tokenizes EV reservations on Sui
NFT Gaming

Carmaker DeLorean tokenizes EV reservations on Sui

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DeLorean launched an onchain reservation system and non-fungible token (NFT) marketplace for its upcoming electric vehicle launch, introducing a new blockchain-based approach for reserving and reselling cars.

According to DeLorean, its Build Slot NFT collection grants holders priority access to purchase DeLorean’s upcoming electric car, Alpha 5 EV. The model is the carmaker’s first vehicle in over 40 years, inspired by the iconic flux capacitor from the movie Back to the Future.

The company created an exclusive marketplace for its NFT holders, in which users can buy or trade the NFTs using the USDC (USDC) stablecoin on the Sui network and will be able to earn rewards.

DeLorean says that each vehicle’s history and performance data will be recorded onchain through the FLUX protocol, including key data such as battery health, maintenance records, accident history, and verified odometer readings. 

This detailed data makes it easier for auto enthusiasts to bid on or resell vehicles in the secondary market, the company said.

DeLorean NFT platform. Source: DeLorean

“Since DeLorean’s emergence in the 1980s, the brand has stood as a symbol of vision, rebellion, and futuristic innovation,” according to Cameron Wynne, the chief brand officer at DeLorean. “By using blockchain technology, we’re setting a new standard for the automotive industry,” Wynne said.

The NFT-based reservation system and the tokenization of an electric vehicle signal DeLorean’s interest in digital assets. The company is also the first carmaker to introduce a utility token, the DeLorean ($DMC) token.

DMC tokenomics. Source: Deloreanlabs 

Luxury brands exploring blockchain, NFTs

NFTs are becoming digital passports for luxury goods, linking to full lifecycle benefits such as reservation, maintenance, resale, and membership services.

By tokenizing luxury products using NFTs, brands can enhance their technological appeal while reinforcing a sense of scarcity and community value.

Global fashion brand Louis Vuitton ventured into NFTs in 2023, offering NFT holders exclusive access to certain products like a $6,400 digital mini trunk, a $9,000 bag and a varsity jacket worth around $8,400.

LVMH Group launched the blockchain-based AURA platform, where luxury items are represented as unique NFTs containing information such as the origin of raw materials, production date and maintenance history.

Magazine: Pranksy: Inside the anonymous life of an NFT legend — NFT Collector



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Sui validators freeze majority of stolen funds in $220M Cetus hack
Crypto Trends

Sui validators freeze majority of stolen funds in $220M Cetus hack

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Cetus, a decentralized crypto exchange (DEX) built atop the Sui blockchain network, said $162 million of over $220 million stolen in a May 22 hack has been frozen.

According to the Cetus team, the DEX is working with the Sui Foundation and other entities within the ecosystem to recover the remainder of the funds. The Sui Foundation also confirmed:

“A large number of validators identified the addresses with the stolen funds and are ignoring transactions on those addresses until further notice. The Cetus team is exploring paths to recover those funds and return them to the community.”

The Cetus hack is the latest in a string of such incidents impacting crypto and Web3 in the first half of 2025. Cybersecurity continues to be a major issue in crypto, with many industry executives calling for the sector to police itself and establish more robust defenses or risk increased regulatory scrutiny.

Source: Cetus

Related: Germany seizes $38M in crypto from Bybit hack-linked eXch exchange

The Cetus hack: the story so far

On May 22, the Cetus DEX was hacked in what is believed to be a smart contract code exploit that saw the DEX drained of approximately $223 million in user funds.

According to the team behind the Extractor Web3 security notification tool, $63 million of the stolen funds were bridged to the Ethereum network.

The Extractor team also identified a wallet address ending in “AF16” used by the threat actors to launder 20,000 Ether (ETH), valued at roughly $53 million.

The Cetus hackers transfer 20,000 Ether to a new wallet address. Source: Etherscan

The recovery efforts and the asset freeze coordinated by different projects, platforms, and validators in the Sui ecosystem drew mixed reactions from the crypto community.

“Good news for the victims, but if validators, 114 only in total, can freeze wallets when they want, it raises a major question about the network’s censorship resistance. Sui is anything but decentralized,” one user wrote in response.

Magazine: $55M DeFi Saver phish, copy2pwn hijacks your clipboard: Crypto Sec



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GameFi Guides

Sui Token Starts to Recover After $223 Million Exploit on Its Biggest Decentralized Exchange

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In brief

  • SUI retraced a small portion of its losses, a few hours after rnews broke that more than $200 million had be stolen from decentralized exchange Cetus.
  • SUI’s price dipped to nearly $3.80 earlier Thursday.
  • Several other tokens linked to the Sui ecosystem were trading down on Thursday.

Sui’s native token started to recover after its price tumbled earlier on Thursday due to a more than $200 million exploit of the layer-1 blockchain’s largest decentralized exchange, Cetus. 

SUI was recently trading at $3.89, CoinGecko data shows. The token, which fell from $4.18 to $3.82 after news of the Cetus exploit erupted on Crypto Twitter, was down 3.7% over the past 24 hours. 

Malicious actors have siphoned $223 million worth of digital assets from Cetus’ liquidity pools, Sui said Thursday in a social media post. The wallet connected to the attack was recently holding about $37 million in cryptocurrencies, SuiVision records show.  

“The Cetus team is exploring paths to recover those funds and return them to the community, Sui said in the statement, adding Cetus has paused smart contracts to prevent further theft. “An incident report from Cetus is forthcoming.”



The exploit comes as the decentralized finance sector has struggled to weather an increasing number of multi-million-dollar cyber attacks over the past few years. A Chainanalysis report shows that stolen funds in the DeFi sector totaled $2.2 billion in 2024, a 21% increase from the year prior. 

More broadly, centralized trading platforms for digital assets have also suffered due to critical cyberattacks on their infrastructures. In February, crypto exchange ByBit sustained a $1.4 billion hack, marking the largest crypto heist ever by funds lost. 

Although Sui’s flagship token has largely recovered since the Cetus attack, other digital assets linked to its ecosystem are still struggling to retrace their losses. 

Lofi (LOFI), Sudeng (HIPPO), and Squirtle (SQUIRT) were recently trading down 15%, 6%, and 91% over the past 24 hours, according to CoinMarketCap data.

Edited by James Rubin

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Sui Ecosystem Rocked by $200M ‘Oracle Manipulation Attack’ on Its Largest DEX

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In brief

  • Attackers exploited vulnerabilities in Cetus Protocol’s smart contracts using spoof tokens to manipulate price calculations and drain liquidity pools on Sui’s largest decentralized exchange.
  • Popular Sui tokens including Lofi, Sudeng, and Squirtle plummeted 76-97% within an hour, while the Cetus token itself dropped 53% as 46 Sui tokens posted double-digit losses.
  • The attacker has $164 million in a Sui wallet and already bridged $61.5 million in USDC to Ethereum, with Cetus pausing contracts and investigations ongoing while Sui’s native token surprisingly rose 2.2%.

The Sui ecosystem has been rocked to its core by an exploit on the network’s largest decentralized exchange Cetus which has seen $200 million stolen from liquidity pools.

Notable Sui meme coins like Lofi (LOFI), Sudeng (HIPPO), and Squirtle (SQUIRT) tanked 76%, 80%, and 97% in just an hour. And the popular Cetus token dropped 53% over the same time frame. According to DEX Screener, 46 Sui tokens have made double digit losses over the past 24 hours.

“The attacker exploited vulnerabilities in Cetus Protocol’s smart contracts by deploying spoof tokens to manipulate price curves and reserve calculations,” Deddy Lavid, CEO and co-founder of security firm Cyvers, told Decrypt. “This allowed them to extract real assets from multiple liquidity pools, including the SUI/USDC pool. The stolen funds are being converted into USDC and bridged to other chains.”

PeckShield estimates that approximately $200 million worth of assets were stolen due to this exploit. The attacker currently has $164 million sitting in a Sui wallet and has bridged $61.5 million worth of USDC onto Ethereum.

A SUI spokesperson declined to comment on the exploit when reached by Decrypt, instead referring to what the team had already shared publicly on X.

In response, Cetus paused its smart contracts to prevent any further losses. The exchange issued a statement on social media stating that an “incident” had been detected and that its team was investigating it.

🚨Alert Announcement 🚨

There was an incident detected on our protocol and our smart contract has been paused temporarily for safety. The team is investigating the incident at the moment. A further investigation statement will be made soon. We are grateful for your patience.

— Cetus🐳 (@CetusProtocol) May 22, 2025

Leaked Discord messages suggest that the Cetus team believe the exploit came as a result of a “bug” in its oracle. Users on social media seemed skeptical of this, but Cyvers told Decrypt the aforementioned exploit is called an “oracle manipulation attack.”

This is because the attackers were able to manipulate the oracle to misrepresent the price via the deployed spoof tokens.

The attacker has been moving funds using the USDC stablecoin. Circle has caught flak from industry experts, like on-chain sleuth ZachXBT, for its slow reaction in freezing funds related to hacks—taking more than five hours to block funds connected to the Bybit hack in February.



(And for what it’s worth, USDT issuer Tether has had similar complaints for its fund freeing process leaving a window for attackers to avoid the punishment.)

“We’ve repeatedly urged stablecoin issuers to act on our real-time alerts, yet many still choose to wait for post-mortem investigations,” Lavid said. “The pattern is clear: Action comes days too late, if it comes at all. In this threat environment, delay is indistinguishable from inaction.”

This situation is still developing with former Binance CEO Changpeng “CZ” Zhao claiming that his team are doing what they can to help Sui.

“Not a pleasant situation,” he wrote on X, formerly Twitter. “Hope everyone stay SAFU!”

Surprisingly, Sui’s price hasn’t been too badly affected by news of the exploit. The token has actually risen 2.2% over the past 24 hours, according to CoinGecko.

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Sui Ecosystem Rocked by $200M ‘Oracle Manipulation Attack’ on Its Largest DEX

by admin



In brief

  • Attackers exploited vulnerabilities in Cetus Protocol’s smart contracts using spoof tokens to manipulate price calculations and drain liquidity pools on Sui’s largest decentralized exchange.
  • Popular Sui tokens including Lofi, Sudeng, and Squirtle plummeted 76-97% within an hour, while the Cetus token itself dropped 53% as 46 Sui tokens posted double-digit losses.
  • The attacker has $164 million in a Sui wallet and already bridged $61.5 million in USDC to Ethereum, with Cetus pausing contracts and investigations ongoing while Sui’s native token surprisingly rose 2.2%.

The Sui ecosystem has been rocked to its core by an exploit on the network’s largest decentralized exchange Cetus which has seen $200 million stolen from liquidity pools.

Notable Sui meme coins like Lofi (LOFI), Sudeng (HIPPO), and Squirtle (SQUIRT) tanked 76%, 80%, and 97% in just an hour. And the popular Cetus token dropped 53% over the same time frame. According to DEX Screener, 46 Sui tokens have made double digit losses over the past 24 hours.

“The attacker exploited vulnerabilities in Cetus Protocol’s smart contracts by deploying spoof tokens to manipulate price curves and reserve calculations,” Deddy Lavid, CEO and co-founder of security firm Cyvers, told Decrypt. “This allowed them to extract real assets from multiple liquidity pools, including the SUI/USDC pool. The stolen funds are being converted into USDC and bridged to other chains.”

PeckShield estimates that approximately $200 million worth of assets were stolen due to this exploit. The attacker currently has $164 million sitting in a Sui wallet and has bridged $61.5 million worth of USDC onto Ethereum.

A SUI spokesperson declined to comment on the exploit when reached by Decrypt, instead referring to what the team had already shared publicly on X.

In response, Cetus paused its smart contracts to prevent any further losses. The exchange issued a statement on social media stating that an “incident” had been detected and that its team was investigating it.

🚨Alert Announcement 🚨

There was an incident detected on our protocol and our smart contract has been paused temporarily for safety. The team is investigating the incident at the moment. A further investigation statement will be made soon. We are grateful for your patience.

— Cetus🐳 (@CetusProtocol) May 22, 2025

Leaked Discord messages suggest that the Cetus team believe the exploit came as a result of a “bug” in its oracle. Users on social media seemed skeptical of this, but Cyvers told Decrypt the aforementioned exploit is called an “oracle manipulation attack.”

This is because the attackers were able to manipulate the oracle to misrepresent the price via the deployed spoof tokens.

The attacker has been moving funds using the USDC stablecoin. Circle has caught flak from industry experts, like on-chain sleuth ZachXBT, for its slow reaction in freezing funds related to hacks—taking more than five hours to block funds connected to the Bybit hack in February.



(And for what it’s worth, USDT issuer Tether has had similar complaints for its fund freeing process leaving a window for attackers to avoid the punishment.)

“We’ve repeatedly urged stablecoin issuers to act on our real-time alerts, yet many still choose to wait for post-mortem investigations,” Lavid said. “The pattern is clear: Action comes days too late, if it comes at all. In this threat environment, delay is indistinguishable from inaction.”

This situation is still developing with former Binance CEO Changpeng “CZ” Zhao claiming that his team are doing what they can to help Sui.

“Not a pleasant situation,” he wrote on X, formerly Twitter. “Hope everyone stay SAFU!”

Surprisingly, Sui’s price hasn’t been too badly affected by news of the exploit. The token has actually risen 2.2% over the past 24 hours, according to CoinGecko.

Daily Debrief Newsletter

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Sui LP provider Cetus allegedly drained of $11m SUI, hack or bug?
GameFi Guides

Sui LP provider Cetus allegedly drained of $11m SUI, hack or bug?

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Traders descended into a panic after LP provider Cetus appeared to be drained of $11 million worth of SUI from its liquidity pool. The team claimed it was an oracle bug, not an exploit.

According to its most recent post, the Cetus team has temporarily halted their smart contracts to prevent any more losses after it detected an incident on its liquidity platform. The team claims that it is currently investigating the root cause of the alleged breach.

“A further investigation statement will be made soon. We are grateful for your patience,” said the protocol.

🚨Alert Announcement 🚨

There was an incident detected on our protocol and our smart contract has been paused temporarily for safety. The team is investigating the incident at the moment. A further investigation statement will be made soon. We are grateful for your patience.

— Cetus🐳 (@CetusProtocol) May 22, 2025

At around 11:00 UTC, traders noticed that the liquidity pool for the liquidity provider Cetus was being drained of tokens, bringing the token supply count to zero. Based on the screenshot circulating online, tokens on the protocol’s leaderboard, including AXOL, SUIRI, HIPPO, among others, plummeted as low as 92% to at least 75% below the initial prices.

At the moment, the platform remains dormant after smart contracts were paused, with all liquidity pools showing no numbers for its trading pairs.

The Cetus team has halted SUI smart contracts temporarily following an incident, May 22, 2025 | Source: app.cetus.zone

Despite news of the liquidity drain and the panic related to it circulating online, the SUI (SUI) token still saw modest gains. In the past 24 hours, it has gone up by 3.15%, reaching $4 per token. Its daily trading volume has increased by 112% compared to the previous trading day, reaching nearly $2.5 billion.

In the past month, the token has been on an ongoing rally, going up by nearly 75%.

Some traders who are members of the Discord server for Cetus have shared screenshots of messages from Cetus admins and developers. One of the members, Figure.Cetus, told traders to remain calm and that the team will publish an announcement soon.

Figure.Cetus claimed that the liquidity provider was not hacked, instead the liquidity drain was due to a bug within the liquidity provider’s oracle.

In crypto liquidity pools, oracles serve to connect the pool’s smart contracts to external data sources, such as real-world asset prices or market conditions. This allows the pool to provide accurate pricing, trade execution, and other features based on the external information it receives.

At press time, the Cetus protocol team has yet to publish an official statement regarding its investigations. In addition, smart contracts are still temporarily paused.





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BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX
Crypto Trends

BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX

by admin



Key points:

  • Bitcoin made a new all-time high, but the bulls will have to sustain the higher levels for the momentum to pick up.

  • Several altcoins have bounced off their respective support levels, signaling a positive sentiment.

  • Analysts expect Bitcoin to maintain its positive momentum and surge above $200,000 by the end of the year.

Bitcoin (BTC) rose to a new all-time high on May 21 on easing macroeconomic fears and continued inflows into the US-based spot Bitcoin exchange-traded funds. Analysts expect the momentum to continue and Bitcoin to surge to $200,000 by the end of the year.

There are some murmurs among analysts about a bearish divergence, leading to a double-top pattern. However, private wealth manager Swissblock Technologies said in a post on X that its Bitcoin Fundamental Index is not showing any bearish divergence, and the onchain strength remains intact.

Crypto market data daily view. Source: Coin360

Bitcoin is on the verge of forming a “golden cross” on the daily chart, which generally is followed by sharp rallies, barring a few instances when the pattern failed. Bitcoin’s strength is expected to improve sentiment in the cryptocurrency sector, pulling several altcoins higher.

What are the possible target levels for Bitcoin? Could altcoins break above their respective overhead resistance levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Bitcoin rose above the $109,588 overhead resistance, but the bulls are struggling to sustain the higher levels, as seen from the long wick on the candlestick.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping moving averages and the relative strength index (RSI) in the overbought zone indicate that the bulls are in control. If the price closes above $109,588, the BTC/USDT pair could pick up momentum and skyrocket toward $130,000.

The 20-day exponential moving average ($101,958) is the critical support to watch out for on the downside. A break below the 20-day EMA will be the first sign that the bulls are booking profits in a hurry. That increases the risk of a break below the psychological support of $100,000. 

Ether price prediction

Buyers are trying to sustain Ether (ETH) above the $2,550 level but are facing significant resistance from the bears.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day EMA ($2,334) and the RSI near the overbought zone indicate that buyers are in control. The ETH/USDT pair is likely to pick up momentum on a break above $2,739. That clears the path for a rally to $3,000.

Contrary to this assumption, a break and close below the 20-day EMA signals that the bears are back in the game. The pair could tumble to $2,111, which is likely to attract solid buying by the bulls.

XRP price prediction

XRP (XRP) has been witnessing a tough battle between the buyers and sellers at the 20-day EMA ($2.35).

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The flattish 20-day EMA and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price skids below the 20-day EMA, the XRP/USDT pair may stay inside the $2 to $2.65 range for a while. 

Instead, if the price turns up sharply from the 20-day EMA and breaks above $2.65, the advantage will tilt in favor of the bulls. The pair could rally to $3 and, after that, to $3.40, where the sellers are expected to mount a strong defense.

BNB price prediction

BNB (BNB) bulls have held the 20-day EMA ($639) support during the pullback, indicating buying on dips. 

BNB/USDT daily chart. Source: Cointelegraph/TradingView

The bulls will try to push the price above $693 but are expected to face solid selling by the bears. However, if buyers bulldoze their way through, the BNB/USDT pair could skyrocket to the overhead resistance at $745.

This optimistic view will be negated in the near term if the price turns down from the current level or the overhead resistance and breaks below the 20-day EMA. That could sink the pair to the 50-day SMA ($609). 

Solana price prediction

Sellers failed to pull Solana (SOL) below the 20-day EMA ($164), indicating demand at lower levels.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

The bulls will try to propel the price above the $185 overhead resistance. If they can pull it off, the SOL/USDT pair could accelerate toward the target objective of $210 and then $220.

If sellers want to prevent the upside, they will have to quickly tug the price below the 20-day EMA. The pair could slide to $153 and later to the 50-day SMA ($145). That suggests a possible range-bound action between $120 and $180.

Dogecoin price prediction

Dogecoin (DOGE) has bounced off the breakout level of $0.21, indicating that buyers are active at lower levels.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA ($0.21) is trending up, and the RSI is in the positive zone, signaling that buyers are in command. The DOGE/USDT pair could rally to the $0.26 level, which could attract sellers. If the price turns down sharply from the overhead resistance, the pair could form a narrow range between $0.26 and $0.21 for some time.

Contrarily, a break and close above $0.26 signals the start of the next leg of the up move. The pair could then surge to $0.35.

Cardano price prediction

The bulls have kept Cardano (ADA) above the neckline of the inverse head-and-shoulders (H&S) pattern during the pullback. 

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The flattish 20-day EMA ($0.74) and the RSI in the positive zone indicate the bulls have an edge. Buyers will have to thrust the price above $0.86 to signal the resumption of the uptrend. The ADA/USDT pair could then skyrocket to $1.01.

This positive view will be invalidated in the near term if the price turns down and breaks below the 50-day SMA ($0.69). That suggests the bulls are losing their grip, increasing the risk of a fall to $0.60.

Related: Bitcoin enters ‘acceleration phase’ resembling BTC price gains seen after Trump election victory

Sui price prediction

Sui’s (SUI) pullback has taken support at the 20-day EMA ($3.73), indicating a positive sentiment.

SUI/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day EMA and the RSI in the positive territory indicate an advantage to buyers. The SUI/USDT pair could reach the $4.25 obstacle, where the sellers are expected to step in. If buyers do not cede much ground to the bears, it increases the likelihood of a break above $4.25. The pair may then climb to $5.

The 20-day EMA is the critical support to watch out for on the downside. A break and close below the 20-day EMA could sink the pair to the 50-day SMA ($3.04).

Chainlink price prediction

Buyers successfully defended the neckline of the inverse H&S pattern in Chainlink (LINK), indicating buying on dips.

LINK/USDT daily chart. Source: Cointelegraph/TradingView

The bulls are trying to strengthen their position by pushing the price above the resistance line. If they manage to do that, the LINK/USDT pair could rally to $18. Sellers will try to halt the up move at $18, but the rally could extend to $19.80 if the bulls prevail.

Time is running out for the bears. If they want to make a comeback, they will have to swiftly yank the price below the 50-day SMA. The pair may then remain inside the channel for a few more days.

Avalanche price prediction

Avalanche (AVAX) took support at the 50-day SMA ($20.88), signaling that the bulls are trying to form a higher low. 

AVAX/USDT daily chart. Source: Cointelegraph/TradingView

Buyers will have to drive and maintain the price above the $23.50 resistance to gain the upper hand. The AVAX/USDT pair could then climb to $26.84, which may act as a hurdle. If buyers overcome the $26.84 barrier, the pair could ascend to $31.73 and subsequently to $36.

Contrary to this assumption, if the price turns down from the overhead resistance and breaks below the 50-day SMA, it suggests that the bulls have given up. The pair could then decline to $18.50.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.



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