Sui DeFi Exchange Cetus Back in Action After $233 Million Exploit
Cetus Protocol, a decentralized exchange on the Sui blockchain, has resumed operations after a malicious oracle attack in May resulted in a $233 million exploit. The attack manipulated price curves and drained liquidity from pools, causing significant losses for SUI-based tokens. The protocol has since recovered approximately $162 million through community governance and received a $30 million bridge loan from the Sui Foundation. All affected liquidity pools have been restored, achieving recovery rates of 85-99%. A compensation plan has been established, allocating 15% of CETUS token supply to affected users, with immediate and vesting distributions. The protocol is collaborating with law enforcement for further asset recovery. Despite concerns over centralization in the response, the Sui Foundation emphasizes the importance of coordinated action. SUI's token has seen a 5% increase recently but remains below pre-exploit levels, while CETUS is down over 75% from its all-time high.
