Cetus Protocol is set to relaunch on June 8, 2025, after a significant hack on the Sui blockchain, resulting in $223 million in stolen assets.
Cetus Protocol Recovery Plan
Cetus Protocol has revealed a comprehensive recovery plan following the significant hack, with a relaunch scheduled for June 8, 2025. Multisig measures will be employed to ensure transparency and secure fund redistribution.
Community Involvement in Recovery
The community is actively participating in the recovery process, highlighting the crucial governance role after the incident. Over 50% of governance votes endorsed the recovery strategy, showing engagement and commitment to resolving the hack's impact.
Hack Consequences and Future Governance
The incident had a significant impact on Cetus's liquidity and asset holdings, prompting key interventions by Sui validators. Questions regarding future governance and security strategies within decentralized finance are becoming relevant, informed by historical parallels.
Cetus Protocol's recovery plan emphasizes the importance of community involvement in governance and demonstrates the potential for recovery post-significant incidents.
