Key notes
- Suis and Cetus Protocol shared the last update on the recovery of stolen funds.
- The besieged protocol obtained approval to send $ 162 million to a 90% multi -validal portfolio.
- The pirate was offered a bonus award of $ 6 million, which has not yet been paid.
- .
The recently hacked Cetus protocol recently took the turn of X to inform its users and the general public of its progress in the recovery of stolen funds. He said he had received approval via chain vote to transfer quarantine funds to a multisig trust account.
The proposal to take over CETU receives support by vote in a chain
The decentralized exchange of the Blockchain Su (Dex), known as Cetus protocol, was the victim of a major feat on May 22. The author has targeted vulnerability in his concentrated liquidity market contract.
The Pirate Cetus has taken advantage of uncontrolled mathematical operations in a third -party code library. Once, he manipulated the prices using a flash exchange, draining several pools by simulating liquidity deposits and repeatedly removing real tokens.
The unfortunate event led to a loss of around $ 220 million in cryptocurrencies, although the protocol then frozen $ 162 million in funds. About 48 hours later, the SUI community was united to pass a critical chain vote for the proposed recovery process.
More than 90% of validators and stakers voted in favor, marking a central moment for the entire ecosystem. In addition to unlocking frozen funds, the proposal roadmap involves complete recovery and restart operations in a week.
To achieve this, Cetus intends to focus on restoring data, upgrading the protocol, upgrading of the CLMM contract, conversion and asset deposits and compensation contracts, among others.
📢 Progress update
After the approval of the chain vote, the funds previously quarantined Sur Suis have now been safe in a multisig trust portfolio – managed jointly by Cetus, the Suis and Otersec Foundation.
TXIDS: pic.twitter.com/6aluwy0qbx
– Cetus🐳 (@cetusprotocol) May 31, 2025
The transfer reported of previously quarantined funds on Such at the Multisig Trust portfolio, managed jointly by Cetus, the Suis and Ottersec Foundation, is the last update of progress. With the now secure funds, the hacked platform has entered the next phase of its asset recovery. The emphasis is now placed on the realization of all the other elements listed in the roadmap.
Netally, the Cetus team scheduled for June 2 for a public space X, where community members will so far receive a break in the situation and the progress made.
“We are advancing with the concentration and urgency of bringing Cetus online and fully restoring protocol operations for all users,” added the DEX based in SU.
The Cetus protocol offers $ 6 million hacking as a bounty white hat bounty
In particular, the Cetus protocol was at the top of his game, trying to recover all the funds, including the $ 162 million frozen. To recover the stolen funds of $ 220 million, he offered the pirate a generosity of $ 6 million. According to Su sur Vision, all the legal actions against the pirate will be rejected if the 20,920 Ethereum had returned.
A contrary decision of the bad actor, such as an attempt to transfer them out of the ramp or to send them further in cryptographic mixers, will “degenerate the question with legal and complete intelligence resources”.
To recover the piracy situation, the SU Foundation offered a guaranteed loan to help Cetus fully compensate for affected users. The DEX would combine the loan with its treasure assets to fully reimburse affected users.
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Benjamin Godfrey is a blockchain enthusiast and a journalist who savor the writing of actual applications for blockchain technology and innovations to stimulate general acceptance and global integration of emerging technology. His desire to educate people on cryptocurrencies inspires his contributions to renowned media and blockchain sites.
