CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

crypto.news 2025-06-09 06:10:30

Cetus Protocol relaunches with new roadmap and compensation plan after $223m exploit

Sui network-based Cetus Protocol has relaunched with a new roadmap, open-source plans, and a compensation programme following a $223 million exploit. The decentralized exchange unveiled its post-relaunch strategy in a June 8 blog post , outlining measures to enhance protocol security, upgrade monitoring systems, and transition toward full open-sourcing. A newly structured white hat bounty programme has also been introduced to support community-driven security efforts. According to the team, all affected CLMM pools have now been replenished using a combination of recovered assets, treasury funds, and a $30 million loan from the Sui Foundation. Liquidity providers will regain access to their previous positions, with recovery rates ranging from 85% to 99%, depending on the extent of the damage to each pool. To compensate for unrecovered losses, Cetus has allocated 15% of its native CETUS token supply to affected users. Of this, 5% will be immediately claimable, while the remaining 10% will be unlocked monthly over the next year, starting June 10. The team clarified that the 15% CETUS allocation introduces no new inflation, as it repurposes unvested team tokens within the existing supply cap. Compensation claims will be tied to LP position NFTs, which will remain valid as certificates for CETUS redemption, even after liquidity is withdrawn. The protocol has also completed new security audits covering all code patches, contract upgrades, and the compensation contract. Additional rounds of audits and real-time threat detection upgrades are planned to further strengthen protocol resilience. You might also like: May’s crypto hacks total $244m, Sui and Cetus claw back $157m The Cetus Protocol was exploited on May 22, after an attacker manipulated its liquidity pool pricing by exploiting a flaw in a third-party code library. In the immediate aftermath, the Cetus team froze operations and began working with Sui validators to recover assets. An on-chain governance vote held on May 29 approved the transfer of $162 million in frozen funds to a multisig wallet for recovery. Further, the Sui Foundation supported the effort with a dedicated USDC loan to backstop off-chain losses. Cetus stated that legal proceedings are ongoing in multiple jurisdictions, with law enforcement agencies actively engaged. The attacker, who declined a $6 million white-hat bounty, is reportedly attempting to launder assets, although the team claims that most movements remain traceable. “We are highly confident that successful arrest and recovering the remaining assets is only a matter of time,” Cetus wrote in the latest announcement. If additional funds are recovered during the compensation period, users will have the option to redeem CETUS for USDC. Once that period ends, remaining funds will be used for token buybacks and deposited into the community treasury. The latest announcement, however, failed to lift CETUS, which fell around 7% on the day, extending a downtrend that began in May. Read more: Sui community approves on-chain vote to recover funds frozen after $223M Cetus hack

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen