The recent hack of Cetus Protocol, a key decentralized exchange on the Sui blockchain, resulted in $220 million in lost assets. However, through active recovery efforts, the platform has successfully resumed operations.
Impact of the Hack on Cetus Protocol
The attack on Cetus Protocol served as a significant reminder of the security risks in DeFi. Approximately $220 million in assets were compromised, causing concern among users. Suspending operations was a necessary step to prevent further losses.
Path to Asset Recovery
Cetus Protocol managed to recover about $162 million of the compromised assets. This result confirms the effectiveness of rapid response and collaborative efforts during the crisis, as returning a significant portion of funds is an important success for the protocol.
Resuming Operations and Security Measures
Cetus Protocol resumed operations on June 8 with support from the Sui Foundation, which provided a $30 million loan. Key trading and liquidity provision functionalities were restored, and liquidity pools affected by the breach have been restored to 85% of their original value. Planned security improvements include additional audits and new monitoring systems.
Cetus Protocol's return after a significant hack demonstrates the resilience of the DeFi ecosystem. New security measures will help rebuild user trust and enhance asset protection.
