The post Cetus Protocol Recovers $162 Million After Security Breach – Coincu appeared on BitcoinEthereumNews.com.

Key Points: Cetus Protocol exploit prompts immediate recovery action, affecting over $223 million. Rapid response freezes $162 million to prevent wider losses. Negotiations underway; $6 million bounty for hacker cooperation. On May 22, 2025, the Cetus Protocol faced a significant security breach, resulting in approximately $223 million being exploited from its decentralized exchange on the Sui blockchain. The breach underscores persistent vulnerabilities in DeFi ecosystems, prompting urgent measures to prevent further losses and recover compromised funds. Cetus Protocol and Sui’s Coordinated $162M Asset Freeze Cetus Protocol confirmed an attack leading to the theft of $223 million. The team quickly acted, cooperating with the Sui Foundation and cybersecurity firm Inca Digital to freeze $162 million of the compromised assets and propose a settlement, including a $6 million offer to the attackers. Authorities, including FinCEN and the U.S. Department of Defense, are engaged to assist in the recovery. Sui‘s market experienced disruptions, with SUI token volatility reported. “We are offering a $6 million bounty in exchange for the return of the stolen funds. This is a time-sensitive offer and we urge the attacker to take it seriously.” – Cetus Protocol Team, Official Spokesperson, Cetus Protocol. Immediate market responses indicated a decline in SUI and related assets’ values, highlighting concerns within the DeFi space about the security of decentralized exchanges. Cetus announced on its X platform plans to publish a complete incident report. SUI Faces 4.25% Drop Amid Post-Hack Volatility Did you know? The $162 million frozen in relation to this breach is comparable to the largest DeFi exploits historically, emphasizing the ongoing vulnerability within decentralized finance. According to CoinMarketCap, as of May 23, 2025, Sui (SUI), priced at $3.89 with a market cap of $12.98 billion, experienced a 4.25% drop in the past 24 hours. Market volatility remains a concern following the…

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Filed under: News - @ May 23, 2025 7:26 am