Cetus Protocol, a decentralized exchange on the Sui blockchain, faced significant consequences after a hack on May 22, 2025. Hackers extracted $223 million, leading to a crisis of confidence and a 50% drop in the price of the CETUS token.
What Happened to Cetus Protocol?
Following the hack on May 22, the CETUS token dropped by 50%. As a result of a community vote, a decision was made to reimburse users for the funds lost in the attack.
Cetus Protocol Recovery Plan
Cetus Protocol has laid out a recovery plan that includes moving frozen funds into a multi-signature wallet. Voter engagement was substantial, with over 90% of validators and stakers supporting the proposal. The recovery roadmap includes eight points, such as data restoration and an updated CLMM contract.
Future of CETUS and Market Outlook
Despite the positive developments, the price of the CETUS token continues to decline due to negative market sentiment. Further price drops could impede the token’s recovery process, with risks of sinking to $0.07565.
Cetus Protocol is on the path to recovery after the recent incident. The community actively supports initiatives to reimburse funds, which could serve as a positive example for other DeFi projects. However, the current state of the cryptocurrency market will be crucial in determining the future of CETUS.
