In a twist worthy of a theatrical farce, the decentralized exchange known as Cetus Protocol, nestled between the realms of Sui and Aptos, has emerged from the murky depths of despair. After a dramatic recovery of $162 million in stolen funds and a generous $30 million USDC loan from the benevolent Sui Foundation, the stage is set for a grand reopening!
On the fateful day of May 8, the protocol, like a phoenix rising from the ashes, announced its triumphant return to the digital marketplace. This resurrection was made possible by a community vote that would make even the most seasoned politicians weep with envy, allowing the retrieval of assets from the villainous attacker’s wallet, which had been frozen by the vigilant Sui validators. Now, with a treasure trove of funds—including the recovered loot, a shiny USDC loan, and a cheeky $7 million cash reserve—Cetus is ready to strut its stuff once more.
CETUS IS BACK!
🌊🌊🌊🐳— Cetus🐳 (@CetusProtocol) June 8, 2025
But let us not forget the dark days of May 22, when Cetus was struck by a calamity that saw over $260 million in assets vanish into thin air. In a race against time, the Cetus team reached out to the Sui Foundation, managing to freeze a staggering $162 million in stolen funds with the help of the ever-watchful validators. Alas, the nefarious hacker, like a magician, managed to launder the remaining funds through the infamous Tornado Cash, leaving the Cetus team scratching their heads in disbelief.
In a separate blog post, the Cetus team, donning their capes of responsibility, revealed a series of heroic measures: patching vulnerabilities, fixing affected pool data, rebalancing assets, and crafting a compensation strategy that would make even the most cynical investor crack a smile. They even promised security audits of their smart contracts before the grand relaunch—how noble!
Moreover, the Cetus team has generously allocated 15% of the total CETUS supply, including the entirety of the team’s remaining unvested tokens, to compensate the beleaguered users. A true act of charity, wouldn’t you agree?
Yet, as the DEX reopens its doors, a chorus of disgruntled users fills the air, lamenting their inability to withdraw funds from the pool. Some are even crying foul over what they perceive as unfair compensation, noting a significant gap in returned funds. “My so-called unaffected LP is back, but with a 27% gap. Even with the drop in Sui to $3.19 atm, not sure what’s going on,” lamented one user, their frustration echoing through the digital ether.
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2025-06-09 09:57