Cetus DEX Resumes Operations with $30 Million Loan from Sui Foundation!
Jakarta, Pintu News ā After suffering heavy losses due to a cyberattack, Cetus Protocol, a decentralized exchange (DEX) based in Sui and Aptos, has now resumed operations.
With the support of the Sui Foundation in the form of a $30 million loan in USD Coin , as well as successfully securing back the stolen funds of $162 million, Cetus Protocol is ready to resume its operations.
This success was followed by a community vote that decided to freeze and expropriate the assets from the attackersā wallets that Suiās validators managed to secure.
Check out the full information here!
Treatment After the Attack
The May 22 attack caused Cetus to lose over $260 million in assets. The Cetus team quickly coordinated with the Sui Foundation to freeze approximately $162 million of the stolen funds. Nonetheless, some of the funds were successfully laundered by the attackers through Tornado Cash, a crypto money laundering platform.
In the recovery effort, Cetus took important steps such as fixing the vulnerabilities leveraged during the attack, repairing the affected pool data, rebalancing assets and pools, and designing a compensation strategy. In addition, a security audit of the smart contracts was conducted before the DEX was relaunched.
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Compensation Strategy and User Concerns
As part of the compensation strategy, the Cetus team has allocated 15% of the total CETUS supply, including all tokens not yet invested by the team, for compensation to affected users. This move is expected to ease the burden on users who lost funds in the attack.
However, although the platform has resumed operations, there are still concerns among users. Some have complained that they are unable to withdraw funds from the pool. There are also reports of unfair compensation, where users feel there are significant gaps in the funds returned.
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Next Steps for Cetus Protocol
With recovered funds and a loan from Sui Foundation, Cetus Protocol now has over $199 million to support the platformās operations and liquidity. This is an important step in restoring user confidence and ensuring the long-term stability of the platform.
The Cetus team is also committed to continuously updating and improving the security of the platform to prevent similar incidents in the future. User safety and operational transparency are top priorities in their efforts to rebuild and strengthen the Cetus Protocol ecosystem.
Conclusion
With the recovery measures taken and the strong support of the Sui Foundation, Cetus Protocol is on track to recover its position in the crypto industry. Although challenges remain, the teamās commitment to transparency and security will hopefully bring back the trust of users.
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Reference
- Crypto Times. Cetus DEX Restarts with $30M USDC Loan from SUI Foundation. Accessed on June 10, 2025
- Featured Image: Crypto Economy
