Cetus Protocol, a platform for trading digital money on the Sui blockchain, provided an important update following a recent hack of $223 million.
Update on Fund Security
The company reported it successfully relocated $162 million of the stolen funds, previously frozen, to a secure digital wallet. This wallet is managed by three groups: Cetus, Sui Foundation, and OtterSec.
Recovery Plan and Next Steps
Cetus will update its system (smart contracts), fix the data for its trading pools, and prepare for a full platform restart. The firm aims to regain user trust and create a system for reimbursing affected users.
Discussion on Twitter Spaces
On June 2, 2025, Cetus will host a public talk on Twitter Spaces where it will discuss the hack, share recovery updates, and answer user questions. The exact time will be announced later, highlighting the firm's commitment to transparency.
The hacking incident illustrates how decentralized platforms can work together to address issues. With support from the Sui Foundation and OtterSec, Cetus aims to strengthen its platform and set an example for other DeFi projects.
