The recent hack of the Cetus platform has led to significant financial losses. However, report indicates that the funds are frozen, raising hopes for recovery.
Details of the Cetus Hack
The hack of the Cetus platform has led to the loss of $260 million, making it one of the largest incidents in DeFi for 2025. The attack began with the USDC on Sui depegging, triggering a crash in token prices by up to 99%. This caused severe damage to liquidity and disrupted major trading pairs within the ecosystem.
Recovery of Stolen Funds
According to reports, there is an optimistic outlook that the $160 million stolen during the hack is locked in the hacker's account and can be recovered. Active efforts are currently underway to recover the remaining stolen funds.
Community Response from Sui
The Sui community urges users to remain calm and avoid panic selling of assets. Community members are confident that leading recovery specialists are working to resolve the situation.
While the hack has posed a significant challenge to the Sui ecosystem, recovery efforts are ongoing, and the community continues to support users during these difficult times.
