Cetus offers $6M bounty after $220M hack as Sui faces decentralization debate

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 23 2025

SUI-4.172%

LAYER-2.372%

X+13.38%

Should l Buy SUI?

Cetus White Hat Bounty: Cetus is offering a $6 million bounty for the return of over $220 million in stolen digital assets, including 20,920 Ether, after being exploited on May 22. They have frozen $162 million of the stolen funds and will pursue legal action if the assets are not returned promptly.
Decentralization Concerns: The Sui Network's emergency response to the hack has raised concerns about decentralization, as they considered implementing a whitelist function to bypass security checks. This move has sparked criticism from advocates who argue it contradicts the principles of a decentralized network, although some view it as a necessary responsive measure.

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Technical Analysis for SUI

Technical Sentiment Analysis for Sui (SUI) As of , Sui (SUI) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SUI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, SUI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Sui (SUI) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.248	0.518	0.797	1.067	1.346	1.616	1.895
Fibonacci	0.518	0.728	0.857	1.067	1.277	1.406	1.616

About SUI

Sui is a groundbreaking layer-1 blockchain platform designed to support the needs of global adoption by offering a secure, powerful, and scalable development platform. At its core, Sui leverages a novel object-centric data model and the secure Move programming language to address inefficiencies prevalent in existing blockchain architectures.On top of strong technical foundations, Sui prioritizes user experience by eliminating barriers commonly associated with blockchain interactions. Through innovations like zkLogin, sponsored transactions, and programmable transaction blocks, Sui creates a higher standard for user experience within Web3 by ensuring applications are accessible and user-friendly.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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