$60M Heist Hits Cetus Protocol—But $160M in Frozen Funds Set for Return
Cetus Protocol was exploited for $60M, but $160M in frozen funds will be returned to LPs. Recovery is underway—will trust in Sui survive?
In a major blow to the Sui ecosystem, Cetus Protocol has suffered a $60 million exploit, shaking confidence in one of the network’s core DeFi players. However, there’s a silver lining: developers from both Cetus and Sui have jumped into recovery mode and already confirmed that $160 million in frozen funds will be returned to Cetus liquidity providers (LPs).
Why does this matter?
DeFi attacks are nothing new, but the swift response and partial recovery are rare. This incident not only puts Cetus under the spotlight but also tests the resilience of the broader Sui blockchain. If developers succeed in restoring most of the funds, it could restore user trust and set a precedent for how serious ecosystems handle crises.
Still, the road ahead won’t be easy. Investigations are ongoing, and it remains unclear how much of the stolen $60M can be recovered. In the meantime, Cetus users should monitor updates carefully and expect volatility across Sui-based platforms.
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