Cetus Protocol has resumed operations following a hacking incident, securing financial support for recovery efforts.
Cetus Protocol Resumption
Cetus Protocol resumed operations today at 9 AM UTC+8, offering full services post-hack.
Financial Support and Recovery Measures
Cetus initiates its recovery plan by reserving 15% of tokens for compensation, with 5% available immediately and 10% unlocking over one year starting June 2025. This recovery plan is bolstered by a $30 million USDC loan from the Sui Foundation along with an infusion of $7 million from the team. Legal actions are also being pursued to recover assets.
Market Impact on SUI Token Price
According to CoinMarketCap data, the Sui (SUI) token has decreased by 2.38% in the past 24 hours, currently priced at $3.20. Despite the volatility, SUI has shown a 65.38% gain over the past 60 days.
The resumption of Cetus Protocol's operations and its recovery measures, supported by the Sui Foundation, signal a commitment to revitalize and strengthen its position within the DeFi sector.
