Cetus Protocol has resumed operations on the Sui blockchain following a recent hacking incident that resulted in significant losses.
Current State of Cetus Protocol
Cetus Protocol is once again available to users, providing liquidity and exchange capabilities. However, some functions such as CLMM are temporarily paused.
Hacking Incident and Its Consequences
On May 22, a hacking incident occurred at the largest decentralized exchange, resulting in over $223 million being stolen. This led to a sharp decline in prices and adversely affected the DeFi market.
Recovery and Community Actions
Following the attack, the Cetus Protocol team took measures to freeze funds and recover lost assets. The community voted to move $160 million into a multi-signature wallet under controlled access.
Despite significant losses, Cetus Protocol is continuing its operations and restoring user trust through proactive security measures and community involvement.
